NV5 Acquires Technical Design Services, Inc., Strengthens Data Center and Technology Infrastructure Design Services

Rhea-AI Summary

NV5 Global, Inc. (Nasdaq: NVEE) has acquired Technology Design Services, Inc. (TDSi), a provider of technology infrastructure design and consulting services. TDSi specializes in data center, technology, audio visual, security, and telecommunications systems, serving aviation, government, financial, and healthcare sectors. The acquisition, made with cash and stock, will immediately enhance NV5's earnings and strengthen its capabilities in the fast-growing data center and technology design sectors.

HOLLYWOOD, Fla., Nov. 16, 2023 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of technology, conformity assessment, and consulting solutions, announced today that it has acquired Technology Design Services, Inc. (TDSi), a provider of technology infrastructure design and consulting services. TDSi specializes in the design, integration, and implementation of data center, technology, audio visual, security, and telecommunications systems to assist clients with meeting their data communications infrastructure.

Founded in 1999, TDSi’s employees operate out of the company’s headquarters in Chicago delivering data and communication solutions to the aviation, government, financial, and healthcare sectors. Approximately 80% of TDSi’s revenue is recurring. The acquisition was made with a combination of cash and stock and will be immediately accretive to NV5’s earnings.

“TDSi’s data center and technology design services strengthen our capabilities in two of the fastest growing, and most profitable businesses within NV5. The acquisition also bolsters our relationships with premiere clients in the aviation and government sectors,” said Dickerson Wright, PE, Chairman & CEO of NV5. “We look forward to the expanded capabilities that we can now offer to the domestic data center and technology design sector and to the contributions that the TDSi team will make for NV5’s growth in these key segments.”

“We are pleased to welcome the TDSi team to NV5 as it strengthens our technology and data center consulting capabilities,” said Ben Heraud, COO of Buildings and Clean Energy Solutions at NV5.  

About Technical Design Services, Inc.
Technical Design Services, Inc. is an information technology, data center, and communications infrastructure design and consulting firm located in Chicago, Illinois. Services include, data center design, structured cable design, audio-visual design, electronic security system design, telecommunications consulting, and network consulting.

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, conformity assessment, and consulting solutions for public and private sector clients supporting sustainable infrastructure, utility, and building assets and systems. The Company focuses on multiple verticals: testing, inspection & consulting, infrastructure engineering, utility services, buildings & program management, environmental health sciences, and geospatial technology services to deliver innovative, sustainable solutions to complex issues and improve lives in our communities. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on LinkedIn, Twitter, Facebook, and Instagram.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.

Investor Relations Contact

NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

FAQ

What company has acquired Technology Design Services, Inc.?

NV5 Global, Inc. (Nasdaq: NVEE)

What does Technology Design Services, Inc. specialize in?

TDSi specializes in data center, technology, audio visual, security, and telecommunications systems.

What sectors does TDSi serve?

TDSi serves the aviation, government, financial, and healthcare sectors.

How will the acquisition impact NV5's earnings?

The acquisition will be immediately accretive to NV5's earnings.