Digital transformation solutions company Digital Management Holdings, LLC has received a strategic investment from private equity firm OceanSound Partners, LP to support talent, expanded capabilities and geographic reach.
In light of the partnership, DMI will continue to operate under its existing management team, led by founder and CEO Jay Sunny Bajaj. Bajaj will retain significant ownership interest.
OceanSound invests in technology and technology-enabled services companies serving government and enterprise end markets.
Bajaj said DMI chose OceanSound as a partner because of the firm’s extensive experience operating at the intersection of the commercial and government technology markets. He looks forward to leveraging its expertise in business development and operational excellence.
“This investment underscores the prime position that DMI occupies in the market and is a tremendous validation of the Company’s long-term growth potential,” Bajaj said. “Marrying our technology capabilities and customer relationships with the financial strength and network of OceanSound makes us even stronger and strategically positions DMI to be the leader during this period of extraordinary digital disruption.”
DMI was founded in 2002 and provides digital transformation and managed mobility services to commercial and government customers. Its suite of agile software development and next-generation engineering solutions combine business strategy, domain specific knowledge and technical expertise.
“This partnership will enable us to further serve our enterprise clients by allowing us to expand investments in our people while accelerating our market expansion and go-to-market initiatives,” Bajaj said.
In fact, DMI has more than 2,100 employees in seven countries and serves more than 200 clients including federal, state and local government agencies. It has a global delivery model and network of digital design studios, agile software development centers and mobile service centers in North America, South America, Europe and Asia.
“DMI has excelled at leveraging their next-gen software engineering solutions developed for commercial customers to create differentiated solutions to better solve challenges facing their government customers,” said Joe Benavides, partner and co-Founder of OceanSound. “We are excited to leverage our strategic perspectives, engineering-like approach to value creation and extensive resources to help build a better, faster growing DMI.”