Diversified Acquires Bowman

Feb. 4, 2010

Scranton, Pa.— February 3, 2010– Diversified Information Technologies, a leading provider of document and information lifecycle solutions, announced today that it has acquired Bowman Enterprises, Inc., a document management services firm headquartered in Benson, NC.

Diversified Information Technologies (Diversified) solutions manage the complete document and information lifecycle and include records management for both physical and electronic records storage, electronic mailroom processing, document imaging, workflow automation, information management consulting and print and electronic presentment. The company serves the Fortune 1000 in the financial, insurance, healthcare, government and other industries.

Bowman Enterprises provides document imaging and management services primarily in the healthcare and government sectors with approximately 160 customers in the Southeastern U.S.

Although financial terms of the acquisition were not disclosed, Diversified’s 2009 revenue was approximately $40 million, and Bowman Enterprises’ 2009 revenue was approximately $6.5 million according to company spokespersons. Members of the Bowman management team including William Reimers and Gary Hemby will be joining Diversified as part of the acquisition.

“This is our second strategic acquisition in the past six months and further expands our footprint in the healthcare industry, where we see a great deal of opportunity in the implementation of electronic medical records (EMR),” said Diversified’s president and CEO Scott Byers.

“Bowman will be a great asset to Diversified. Both companies have worked in the highly competitive technology services space for decades and share a similar culture: client relationships and customer service are absolutely critical,” commented Joseph O’Boyle, Diversified’s Vice President of Strategic Acquisitions.

“We are very pleased about the acquisition. Our customers are the real winners because we are now able to offer them new products and services. Customers will also benefit from additional new document imaging and records storage locations and facilities,” said William Reimers of Bowman.

In October 2009, Diversified acquired Active Data Services, a document imaging, print and electronic presentment provider headquartered in Raleigh, NC. Bowman Enterprises is headquartered in Benson, 47 miles southeast of Diversified’s Raleigh facility.


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