Bay area fertile ground for tech acquisition

In an effort to expand into the area of human capital management, or practices related to managing people as resources, Tampa technology services company Tribridge has acquired Intelladon, a talent management consultant and integrator also in Tampa.

The acquisition, which closed July 2, was more than a business transaction, leaders of the companies said.

It’s a sign that Tampa Bay’s tech industry is alive and thriving.

Tony DiBenedetto, chairman and CEO of Tribridge, and Marc Blumenthal, now president of Intelladon, a Tribridge company, discussed the acquisition and its larger meanings with TBBJ. Responses below have been edited and condensed for space.

TBBJ: Why did human capital management appeal to Tribridge?

DiBenedetto: “As we have continued to grow, we have had more customers ask about helping them strategically on [aspects] of business that traditionally were not automated, like recruiting, learning and e-learning, and performance management. … We were blown away by how many clients were asking to automate that business… We look at it as a hot space.”

TBBJ: How did the relationship between Tribridge and Intelladon come about?

Blumenthal: “Tony and I have been CEOs of tech companies in the Bay area for a very long time and knew each other in various versions of our history and whatever we were doing.” [Tribridge became a customer of Intelladon about two years ago as it prepared to launch Tribridge Academy, a professional development program, he said.]

“Our teams got a chance to work together… It was serendipity in terms of being able to get to know each other better.”

TBBJ: What are the advantages of doing the deal in the Tampa Bay market?

DiBenedetto: “If you think about the state of Florida or the local area, there are universities filled with bright, intelligent young people who work in the tech field. We are active in [getting] great talent out of there. That’s a huge advantage for both of us in building the companies.”

Blumenthal: “I wouldn’t want to build a company anywhere else, with the lifestyle in Tampa and the resource of young people coming out of the university system. They organize around job opportunities. It’s a great place to be.”

TBBJ: Is this acquisition the result of a supportive tech community?

Blumenthal: “The amount of collaboration that occurs at these different organizations like Tampa Bay Technology Forum and Tampa Bay WaVE and everything that we’ve been involved in makes it more possible. The collaboration creates a relationship and great ideas come together.”

TBBJ: What can we expect from Tribridge going forward?

DiBenedetto: “We plan on doing several more acquisitions in the human capital space to build on this as a platform … In addition, you will see us do acquisitions outside of human capital, in other areas… We are a high growth company looking to have a dominant position in the IT services space in the U.S.”