The acquisition was announced Tuesday in a press release. Terms were not disclosed.
Candoris was founded in 2011 by brothers Stephan and Lucas Van Der Ploog. The company moved into a new $2.1 million, 12,500-square-foot building in Annville in 2018.
The company will remain in Annville and continue operating as a CDI company, with hiring and growth expected to continue apace for the extremely fast-growing firm.
According to CDI, expertise with Salesforce was the specific attraction in its courtship of Candoris, the latest in a series of rollups by CDI following a cash injection by private equity firm One Equity Partners in January 2020. CDI also cited combined client-focused approaches and strong company cultures as key drivers for the deal.
Said CDI CEO Rich Falcone in the release, “(Candoris’) expertise with Salesforce solutions, paired with our elite ServiceNow offerings, brings added value to our mutual clients who time-after-time have asked to bring these complimentary platforms together.”
“Joining the CDI Team is a perfect partnership at the perfect time,” said Stephan Van Der Ploog, President and Chief Accountability Officer of Candoris, in the release. “Overnight our customers gain access to a deeper pool of solutions and our employees gain access to broader career opportunities. It is a win-win. Cultural alignment was table stakes for Candoris when we began this process, and we feel blessed that CDI appreciates and wants to preserve what we have built over the past 10 years.”
In an interview with industry outlet CRN, Van Der Ploog elaborated that the choice to sell the company was motivated primarily by employees. “With a 10-year company supporting 100 families, we could grow organically,” said Van Der Ploog to CRN. “We were trying to do that, but that means a decision between profit and hiring. We could take on an investor. Or we could acquire or be acquired. But the first three options take time. By getting acquired, we get the same result overnight.”
Van Der Ploog told CRN that the CDI acquisition will open up new opportunities for growth to current Candoris employees. “The big issue is career path. With CDI, the employees now have new opportunities.”
As part of the deal, Candoris’ commitment to donate 10% of profit to charitable initiatives will remain upheld by CDI, which said it is “committed to continuing these philanthropic efforts.”