During 2010, we made two strategic moves designed to enhance and expand our service
offerings. In January 2010, we acquired Curastat, Inc., an
Arizona-based
specialized healthcare staffing organization. This acquisition, along with the creation of Mastech Healthcare, Inc., expanded our
service offerings into the healthcare staffing space. Also in January 2010, we sold our brokerage staffing business, thus focusing on our IT and healthcare staffing operations.
In August 2013, we sold our healthcare staffing operations to focus entirely on our core IT staffing business.
During the fourth quarter of 2014, we established a technology center to evaluate practice opportunities for high-demand IT skill-sets and
emerging technologies. In 2015, we embarked on our first technology practice, Salesforce.com.
On June 15, 2015, we completed
the acquisition of Hudson Global Resources Management, Inc.s U.S. IT staffing business (Hudson IT). Hudson IT was a domestic IT staffing business with offices in Chicago, Boston, Tampa and Orlando. Hudson IT deployed a
branch service business model that targeted clients that are direct
end-users
of IT staffing services. Additionally, as part of the Hudson IT acquisition, we acquired a digital learning services practice which
became our second technology practice.
In 2016, we launched our third technology practice, SAP HANA and
re-aligned
our recruitment organization along technology streams to improve our focus on digital technologies, in addition to our proven capabilities to staff mainstream technologies. Additionally in 2016, we
changed our name to Mastech Digital, Inc. The name change was part of our rebranding initiative that reflects our transformation into a digital technologies company. The rebranding also included a logo change and a refreshed corporate website.
In 2017, we added specialized capabilities in delivering data management and analytics services to a global customer-base through the
acquisition of the services division of InfoTrellis, Inc.
Recent Developments
On July 13, 2017, we completed our acquisition of the services division of Canada-based InfoTrellis, Inc. (InfoTrellis), a
project-based consulting services company with specialized capabilities in data management and analytics. The acquisition is expected to significantly strengthen our capabilities to offer consulting and project-based delivery of digital
transformation services. InfoTrellis, Inc. is headquartered in Toronto, Canada, with offices in Austin, Texas and a global delivery center in Chennai, India.
The purchase agreement for the InfoTrellis acquisition totaled $55 million, with $35.75 million paid in cash at closing (which was
reduced by working capital adjustments of $861,000) and $19.25 million deferred over the two years after closing. The deferred purchase price is contingent upon the acquired business generating specified EBIT (earnings before interest and
taxes) targets during the first two years following closing.
Operating Segments
Our revenues are generated from two business segments: Data and Analytics Services and IT Staffing Services. Details related to these two
businesses are discussed separately below, while information about our employees, differentiators, technologies and various other aspects of our business is shown in the aggregate for Mastech Digital, Inc.
Data and Analytics Services
Our Data and
Analytics Services business is the result of our acquisition of the services business of InfoTrellis, Inc., a Canada-based organization with locations in Austin, TX. and Chennai, India. The acquisition was completed in July 2017, and the resulting
business segment is marketed as Mastech InfoTrellis, a brand that
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