RESTON, Va., Nov. 2, 2017 /PRNewswire/ -- TeraThink Corporation (TeraThink) and Dominion Consulting (Dominion) today announced a definitive merger agreement in which TeraThink will remain the surviving corporate entity. The merger of equals combines complimentary capabilities, experience and commitment to excellence on a much broader platform that yields enhanced service delivery to customers. It brings exceptional scale and value to support customer transformation, automation, and mission goals through expertise in agile development, enterprise application technologies, and cloud computing. The newly formed company will double its size to $80 million in annual revenue evenly allocated across defense and federal civilian customers including Washington Headquarter Services, The Joint Staff, DLA, DOJ, DHS, and USDA.
Paul Lombardi, chief executive officer of TeraThink, will transition to chairman of the board of directors as a result of the transaction. Dan Maguire, president of Dominion, will become the new chief executive officer of TeraThink, and Tim Spadafore, chief operating officer of Dominion, will serve as the president and chief operating officer.
"This merger brings together two like-minded companies, and their employees, to better serve and transform the missions of our customers," said Lombardi. "We share a vision of an excited and innovative workforce, steeped in capability, who will stop at nothing to drive successful outcomes for our customers. I'm absolutely thrilled for what the future holds for TeraThink."
"I could not be more excited about the prospects of the new TeraThink," said Maguire. "The combination of TeraThink and Dominion results in an employee-first company comprised of great people driven to deliver high-value, innovative solutions to our federal customers. I truly believe through our combined work force, we are poised to lead and tackle the toughest problems in the market today."
TeraThink will remain a privately held corporation. Houlihan Lokey acted as exclusive financial advisor to TeraThink on this transaction, and KippsDeSanto served as exclusive advisor to Dominion.
About TeraThink Corporation
Headquartered in Reston, VA, TeraThink is an exceptionally nimble, resourceful team of information technology and management consultants that's purpose-built to help our clients drive real, rapid progress and make smart, sustainable improvements that lead to less stress and greater operational success. Our seasoned consultants are 100% focused on our government clients, and have a proven track record collaborating with them to dramatically reduce cycle times, do more with less, lower error rates, simplify processes, save money, and equip every client to focus more energy and resources on accomplishing their missions. That's why we can provide a reference from every organization we've ever worked, and why we're one of the fastest-growing technology and management consulting firms in the U.S. We exist to continuously provide answers that move our clients further and faster – and advance the great things they do for our country and every U.S. citizen. For more information, please visit www.terathink.com.
About Dominion Consulting
Dominion Consulting Inc, headquartered in Reston, VA, is a technology and management consulting firm that connects ideas with innovative solutions to help organizations get from where they are now to where they want to be. Dominion's people possess the exceptional knowledge of technology, agile thinking and strategic vision needed to help its clients make better decisions and achieve their goals. Dominion is forward-thinking; delivering high-value business transformation services to public and private sector clients that help them adapt to change and evolve into the future. For more information, please visit www.dominionconsulting.com.
11955 Freedom Dr.
Reston, VA 20190
View original content with multimedia:http://www.prnewswire.com/news-releases/terathink-corporation-and-dominion-consulting-announce-merger-300548403.html
SOURCE TeraThink Corporation