OceanSound Affiliate Invests in Tech Services Provider DMI

Digital Management Holdings, also known as DMI, has secured a strategic investment from an affiliate of New York-based private equity firm OceanSound Partners and will use the funds to expand its geographic presence and technological offerings in support of customers’ digital transformation efforts.

Established in 2002, DMI is a Bethesda, Maryland-based technology company that provides digital transformation and managed mobility services to government and commercial clients, the companies said in a joint statement Tuesday.

DMI has more than 2,100 employees in seven countries and offers platforms in the areas of analytics and artificial intelligence, cloud, cybersecurity and application development to over 200 government and industry clients.

Jay Sunny Bajaj, founder and CEO of DMI, will continue to lead DMI and keep a significant ownership interest in the company.

“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,” said Bajaj.

Baird and Jones Day served as DMI’s financial adviser and legal counsel, respectively, to DMI. Miles & Stockbridge also advised DMI management on the transaction.

John Song, managing director at Baird and a 2021 Wash100 Award recipient, told GovCon Wire that DMI is a “well-established brand” that provides digital transformation support to government and Fortune 1000 companies.

Song added that DMI and OceanSound aim to bring the investee company to its next stage of growth.

DC Advisory acted as OceanSound’s exclusive financial adviser, while Gibson, Dunn & Crutcher and Paul, Weiss, Rifkind, Wharton & Garrison advised the private equity firm on the deal’s legal aspect.

Goldman Sachs Asset Management Division and Blackstone Credit offered committed financing.

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