OceanSound-Backed DMI Buys Ambit in Federal Market Expansion Push

DMI, a portfolio company of OceanSound Partners, has purchased digital transformation services provider The Ambit Group in a transaction aimed to grow DMI’s portfolio of clients, service offerings and contract vehicles as well as broaden its presence in the defense and federal civilian markets.

“With this addition, we combine Ambit’s comprehensive data management, analytics and cybersecurity services with our cross-industry, digital transformation expertise to help drive the next generation of digital government,” said Sunny Bajaj, founder and CEO of DMI, said in a statement.

Ambit has provided support to national security, federal science and financial agencies since 2004, including the Securities and Exchange Commission, Consumer Financial Protection Bureau and the Federal Emergency Management Agency.

The transaction marks DMI’s second acquisition in 2022. In April, the company acquired data science company Aurotech.

Private equity firm OceanSound led by Managing Partner and Co-Founder Joe Benavides made a strategic investment in DMI in October 2021.

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