GREENSBORO, N.C.--(BUSINESS WIRE)--Dais X, a leading digital transformation partner to middle-market companies, today announces that it intends to merge its consulting and software product development platform with Dais AI, an artificial intelligence (AI) company purpose-built to help clients capitalize on digital business opportunities through the development of custom AI solutions and technologies.
“As shown by our steady growth over the past three years, Dais X continues to gain momentum, marked by strong progress on our strategic initiatives and client successes,” said Neal Davis, President and Chief Executive Officer. “With these foundations in place, we are now ideally positioned to merge with Dais AI and create one leading company. In alignment with our strategic plan, the decision to combine these businesses will allow Dais X to sharpen its focus as a leading digital transformation partner to middle-market companies.”
The company believes the merger will offer several benefits:
- The company will benefit from an enhanced strategic and management focus;
- The company will be able to focus investment on a unified growth priority, positioning the company for stronger, more sustainable value creation; and,
- The company will have a unified capital structure with the ability to fund targeted profitable growth.
Dais X believes the merger will sharpen the company’s focus as a leading digital transformation partner, encouraging long-term revenue growth and margin expansion. Building on Dais X’s successful track record of growth, the merger will give the company more flexibility to explore new areas of growth and apply even more investment behind software product development and AI research and development.
Consistent with its enhanced focus on digital strategy consulting, product development and AI, Dais X will move its headquarters to the metro Charlotte area.
“Locating our company in Charlotte will enable us to accelerate innovation, increase collaboration with our internal teams and partners, attract and retain talent, and better connect with our clients,” said Davis, who will continue to lead Dais X.
The merger is currently targeted to be completed in Q1 2020. Throughout the process, Dais X will remain committed to business as usual with all key stakeholders, including clients, employees and local communities.
About Dais X
Dais X is a leading digital transformation partner helping middle-market companies leverage the power of technology and innovation to digitally enable their business and succeed in highly competitive markets. The award-winning company blends strategy and consulting with experience, engineering and creativity in their approach to transformation. Dais X is committed to creating long-term value for its clients. For more information, visit www.dais-x.com.
About Dais AI
Dais AI delivers next-generation artificial intelligence solutions to clients. The company is purpose-built to help clients capitalize on digital business opportunities through the development of custom AI solutions and technologies. Dais AI was co-founded in 2017 by software industry veterans, Sunil Nikhar and Sudhir Deshpande. For more information, visit www.dais-ai.com.
