CMIT Solutions, Inc.
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CMIT Solutions, Inc. - overview
Established
1996
Location
Austin, TX, US
Primary Industry
Business Support Services
About
CMIT Solutions, Inc. delivers comprehensive IT support and managed services to businesses, enhancing their operational efficiency and security through tailored technological solutions. CMIT Solutions, Inc. was founded in 1996 and operates from its headquarters in Austin, US.
The company specializes in managed IT services and has undergone strategic changes to adapt to market demands without mentioning significant pivots. CMIT was co-founded by Maggie Halabi and Scott Graflund. In December 2022, the company was acquired by Hammond, Kennedy, Whitney & Co. from Craftsman Capital Partners, although financial terms of the transaction were not disclosed.
The company has completed a total of 2 deals, with the most recent occurring on December 31, 2022. CMIT Solutions® specializes in providing managed IT services, cybersecurity solutions, productivity applications, cloud services, and network management. Their offerings are designed to enhance business agility and address critical operational challenges across sectors such as healthcare, education, finance, and retail. The company serves a diverse clientele, delivering IT solutions that are tailored to meet unique business needs and enhance operational frameworks across various geographical markets.
In 2017, CMIT Solutions generated revenue of USD 58. 00 mn, primarily through subscription-based models for its managed IT services and support solutions, which include help desk services, cybersecurity measures, and disaster recovery plans, structured through service agreements with clients. Following its acquisition in December 2022, CMIT Solutions is strategizing to enhance its offerings to combat rising cyber threats and complexities in information technology. The company is expected to focus on launching new cybersecurity solutions and expanding its market presence, although specific geographic targets have not been disclosed.
The recent acquisition aims to support these initiatives by providing the necessary resources and strategic direction to adapt effectively to the evolving IT landscape.
Current Investors
Hammond, Kennedy, Whitney & Co., Craftsman Capital Partners
Primary Industry
Business Support Services
Sub Industries
Data Centers, Consulting Services
Website
www.cmitsolutions.com
Verticals
Cloud Computing
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
CMIT Solutions, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Wright Technology Group | - | ||||||||
| Add-on | Completed | Velox Systems, Inc. | - | ||||||||
| Add-on | Completed | Fuller Information Technology, Inc. | - | ||||||||
| Buyout | Completed | CMIT Solutions, Inc. | - | ||||||||
| Buyout | Completed | CMIT Solutions, Inc. | - |
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