Milestone Technologies, a portfolio company of leading international investment firm H.I.G. Capital, announced recently that it will be expanding its operations through the acquisition of Glendale, California-based company Software Management Consultants, Inc.
SMCI was first founded in 1983 and has since grown into a renowned consultancy specializing in staffing and solution services across multiple IT platforms and disciplines. The company offers contract staffing to many IT outfits, and includes contract-to-hire options for a wide range of services including systems development, software installation, system maintenance, and enhancement services, among others.
This acquisition will enhance the scope of Milestone’s technological and software capabilities, and expand the company’s service offerings in the IT sphere.
"SMCI adds a deep bench of delivery and management talent to Milestone’s already strong team and will allow the Company to further support its customers in their digital transformation initiatives," said Andrey Vakhovskiy, Managing Director at H.I.G. "The acquisition of SMCI continues Milestone’s strategy of consolidating the fragmented IT services and staffing industry."
Milestone Technologies has been in operation since 1997, and has grown greatly since its first conception in Silicon Valley. The company employs over 2,500 professionals and operates in 36 countries worldwide.
"I am thrilled to welcome the SMCI team, their customers, and partners to the Milestone family. We are very excited about the capabilities SMCI adds to our services portfolio. Our teams will collaborate to drive significant value for our clients," said Sameer Kishore, President and Chief Executive Officer of Milestone Technologies. "SMCI and Milestone share similar values and beliefs with a strong focus on an employee-first culture and providing best-in-class services to clients."
Milestone Technologies was acquired by H.I.G. Capital in 2015 and has since operated under the guidance of the highly-valued investment firm. H.I.G. Capital has over 100 portfolio companies and $45 billion in equity capital under management. The firm has bankrolled over 300 companies in its long-standing history of investment.