Macquarie Capital announced Wednesday that it has reached a definitive agreement to sell its portfolio company, Dovel Technologies to Guidehouse, leading provider of strategic advisory and technology services, for an undisclosed amount in a transaction expected to close in the fourth quarter of the 2021 fiscal year.
Damon Griggs, chief executive officer of Dovel said, "We are excited by the opportunity to join the Guidehouse platform given our complementary capabilities and strategically correlated missions to improve, protect, and save lives.”
He continued, “Together, Dovel and Guidehouse will create a powerful, technology-driven organization, characterized by deep industry expertise and leading technical know-how. Our companies are aligned with similar cultures and strong core values."
Dovel’s expertise in implementing leading-edge technologies like artificial intelligence, cloud adoption, digital modernization and technology infrastructure optimization, particularly in the domain areas of public safety, health and human services, will augment Guidehouse’s offerings to further their mission of creating the next generation global consultancy.
“Through the integration of our two firms, our employees will experience an innovative and collaborative environment with expanded growth opportunities, while our combined clients will access a wider array of expertise, tools, and technologies to support their most important initiatives. We look forward to this new chapter together,” Griggs added.
Guidehouse will welcome Dovel’s management team and staff in the acquisition, adding 1,800 individuals to the combined employee base. Guidehouse and Dovel’s partnership is expected to generate over $2 billion in annual revenue.