On Nov. 2, TeraThink Corp. announced its merger agreement with Dominion Consulting, a move in which the former company remains the corporate entity.
Paul Lombardi, CEO of TeraThink, stated: “This merger brings together two like-minded companies, and their employees, to better serve and transform the missions of our customers. 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.”
This merger equally combines the two firms to bring scale and value to support customer transformation, automation and mission goals to reality through agile development, enterprise application technologies and cloud computing. The new company will double its size to $80 million in annual revenue evenly allocated across defense and federal civilian customers.
Following the merger, Lombardi will step into the role of chairman of the board. Dan Maguire, president of Dominion, will become the new CEO of TeraThink, and Tim Spadafore, chief operating officer of Dominion, will be the president and chief operating officer.