Cogent Growth Partners Assists rockITdata in Acquisition of Pharos Group
Cogent Growth Partners (CGP), the leading buy-side intermediary for IT Services mergers and acquisitions, announced that it advised rockITdata in their recent strategic acquisition of Pharos Group, Inc.
“Alignment of cultures and fit of the opportunity are two of the most important factors needed to assure M&A success,” said George Sierchio, Executive Vice President and Senior Partner, Cogent Growth Partners. “rockITdata and Pharos Group share vast federal government market expertise and a very similar cultural with both companies being designated as Service-Disabled Veteran-Owned Small Businesses, which, when combined with rockITdata’s deep AI and ML-enabled technology, should position them well for their business objectives surrounding revolutionary changes in this technology landscape.”
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rockITdata, a minority-owned, woman-owned, and certified Service-Disabled Veteran-Owned Small Business (SDVOSB), provides world class IT consulting services to the government and commercial sectors. Founded in 2019, rockITdata has rapidly ascended the cloud integration market, becoming an AWS Advanced Tier Partner and Public Sector Service Provider. Focused on AWS and Salesforce capabilities, rockITdata has combined advanced AI and Machine Learning (ML) capabilities with a proprietary contact center model to create an innovative Contact Center as a Service (CCaaS) solution, rockITCX.
“Because the Contact Center as a Service market is growing tremendously, we needed a strategic acquisition to cement our position as a market leader,” said Marlie Andersch, CEO and Founder of rockITdata. “With Cogent Growth Partner’s help, we were thrilled to be able to identify Pharos Group as an acquisition candidate that was well-aligned with our goals and ready to join forces with us to re-invent the contact center marketplace.”
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As a result of the acquisition of Pharos Group, rockITdata will add more than 40 industry-leading professionals to the rockITdata ranks. The two companies will also integrate senior management consulting with best-in-class technology into the CCaaS model to provide strategic planning, training and portfolio management services.
“Combining Pharos with rockITdata will enable the hypergrowth that we have been seeking,” said Tim Ciampaglio. “Additionally, our cultures are completely aligned, which will enable us to retain our great people as well as attract new A-level talent.”
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