SM&A Acquires Cardinal Technologies, Inc.

Power Digital Acquires Cardinal Digital Marketing

January 21, 2026

Marketing & Advertising

Power Digital (a tech-enabled growth marketing firm) has acquired Cardinal Digital Marketing to establish a dedicated healthcare division. Cardinal will operate as Power Digital's healthcare division, retaining its leadership and team while leveraging Power Digital's enterprise intelligence and measurement capabilities to scale healthcare-focused marketing services.

IMC Acquires Cardinal Capital Management

September 5, 2023

Financial Services

IMC, a global market maker, has acquired Chicago-based proprietary trading firm Cardinal Capital Management, LLC. The firm will be renamed IMC Securities and is intended to expand IMC's liquidity-provision capabilities in the US equity derivatives (options) market; terms were not disclosed.

Attain Capital Partners Invests in Cardinality.ai

February 23, 2022

AI & Machine Learning

Attain Capital Partners led Cardinality.ai's first external investment round, taking a minority/growth stake and joining the company's board to support expansion. Cardinality.ai, a GovTech-focused AI SaaS provider, will use the funding and new leadership to accelerate product growth and scale impact for state and local government programs.

ICS (ClearLight-backed) Acquires Cards Technology

August 1, 2022

IT Services

ICS, a ClearLight Partners-backed IT managed services provider, has acquired Cards Technology, a managed IT services firm headquartered in Ocean City, Maryland. The deal expands ICS's Mid‑Atlantic footprint and augments its managed IT, cybersecurity, and cloud capabilities for small- and medium-sized businesses.

Milestone Technologies (H.I.G. Portfolio) Acquires Software Management Consultants, Inc. (SMCI)

August 2, 2021

IT Services

Milestone Technologies, a Silicon Valley-based global IT managed services provider and portfolio company of H.I.G. Capital, has acquired Software Management Consultants, Inc. (SMCI), a Glendale, California–based IT consulting, talent management and digital solutions firm. The acquisition expands Milestone's US footprint and bolsters its IT managed services and staffing capabilities as part of a strategy to consolidate the fragmented IT services and staffing market.

Boathouse Capital Invests in Cardinality.ai

April 13, 2023

AI & Machine Learning

Boathouse Capital completed a growth investment in Cardinality.ai, a government-technology focused AI SaaS provider, to accelerate product innovation and expand go-to-market efforts. Cardinality.ai, which serves state-level health and human services agencies in five states and across eleven agencies (serving 23M+ constituents), will use the capital to scale its built-for-government AI SaaS solutions.