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.

Mariner Acquires Cardinal Investment Advisors

January 14, 2025

Financial Services

Mariner announced the acquisition of Cardinal Investment Advisors, adding about $292 billion in assets under advisement and roughly 40 employees to its Mariner Institutional practice. The deal will incorporate Cardinal’s investment consulting team into Mariner’s insurance advisory practice, with integration expected to be complete by the end of March.

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.