Precocity, LLC Acquires GTT Software Technologies, Inc, Strengthens Growth Capabilities
Press Release (ePRNews.com) - DALLAS - Apr 22, 2017 - Precocity, LLC (“Precocity”), a leading provider of Digital Marketing & CRM, Creative & User Experience, Date & Analytics, Enterprise Web Development, Software Engineering, Business & Digital Transformation Solutions to mid-tier and Fortune 1000 corporations in USA and Canada, today announces the acquisition of Global Technical Talent, Inc. (“GTT”). GTT’s best-in-class technical staff augmentation and permanent placement skills will enhance Precocity’s unmatched custom consulting solutions in the arena of Customer Experience Strategy essential to today’s organizations.
Headquartered near Boston and established in 1999, GTT has an 18-year track record of proven success in technical staffing and has become a trusted partner for Fortune 1000 clients seeking highly skilled professionals. A rising number of major corporations struggling to meet their hiring needs with quality candidates are now turning to outsourced services solutions such as GTT. The acquisition will expand Precocity’s leading Information Technology staffing services platform and enhance its continued growth trajectory.
“We have seen some exciting growth and adding a company like GTT to our platform makes us that much more competitive. GTT has a long and impressive track record and we are looking forward to seeing the success of this new venture play out for everyone involved,” said Precocity and GTT CEO, Barry Farah. “This is a very exciting time for everyone under the Precocity umbrella as we continue to grow and expand our offerings.”
Vishnu Doraiswamy, previous CEO of GTT and now Sr VP of GTT commented, “Combining with Precocity is a big win for our customers and our employees and will accelerate growth for all parties involved. Being able to tap into the financial and consulting resources that Precocity has to offer will be a game changer. They also are owned by Chenega Corporation, an Alaskan Tribe, providing us with special minority owned status. That is a great check off for many of our clients.”
Precocity, LLC is a leading provider of consulting services impacting all digital touchpoints related to Customer Experience. Specifically, Precocity helps its mid-tier and Fortune 1000 companies deepen their customer’s loyalty through Digital Marketing & CRM, Creative & User Experience, Date & Analytics, Enterprise Web Development, Software Engineering, Business & Digital Transformation Solutions. Visit www.Precocityllc.com for more information. Precocity is wholly owned by Chenega Corporation which enjoys combined resources of over 5,800 employees, $1 billion in revenue, over $200mm in net worth and over $600mm in untapped borrowing capacity.
Established in 1999, GTT provides IT staff in 30 states and taps into their exclusive database of 9 million job seekers covering over 350 professional skill sets. GTT ingests over 200,000 new resumes per month. They provide Fortune 500 enterprises, successful mid-size businesses and innovative start-up ventures with highly qualified talent to meet their unique needs through its expertise in Staff Augmentation, Permanent Placement Services, and Vendor Management Programs.
GTT has been a leader in the staffing industry for over 18 years and is one of the largest staffing firms in the Northeast region. Known for cutting edge, technology-driven recruiting infrastructure and customer-centric approach, they offer their partners unmatched quality, streamlined execution, and a responsiveness and flexibility that go above and beyond traditional staffing services.
About the Investment Banker
This transaction was conducted without a broker on either side of the transaction. The Seller and Buyer met at a conference. The Seller utilized a trusted friend and previous CFO to serve as a consultant to assist him in managing the process on his end. The Buyer utilized its own team. The letter of intent was executed in December. The transaction closed in April due to the complexities of an all stock purchase.Source : Precocity, LLC & Global Technical Talent, Inc.
Texas United States