LBMC Acquires National Data Analytics Firm in Response to Client Requests

Brentwood, Tenn.-based LBMC (FY19 net revenue of $114.9 million) has acquired Think Data Insights, a national data analytics company.

Senior marketing manager Lisa Flynn Namm says clients were asking for help determining what their data means and how to use it. Firm leaders visited with private equity companies in California, Chicago and New York, for example, “and a key takeaway was their need for expertise in collecting and understanding the data they have as well as analyzing it and finding the true data insights that make it so valuable.”

Think Data Insights, a Nashville company, says it offers modern data platforms to help clients harness the power of their data to gain deeper insights into their organizations. Think Data Insights serves industries including health care, manufacturing, retail, media and finance, among others.

“As we continue to grow, we continue to invest in new service lines that deepen and enhance our offerings, while keeping LBMC at the forefront of technological advancements,” says CEO Jeff Drummonds. “This acquisition underscores our commitment to providing our clients with transformational solutions, so that the thousands of businesses we work with across the country have access to best-in-class resources and experts that advance their success.”

As firms around the country seek to diversify their services, many are turning to M&A to fill in the gaps or add offerings, Drummonds says. While LBMC has grown organically over the past 35 years, it is now “aggressively opportunistic” about acquisitions.

Ken Raetz, CEO, Think Data Insights, will join LBMC as a shareholder and will work to grow the data analytics service line. “This allows us to expand our footprint and leverage LBMC’s deep expertise, while increasing the company’s resources, and ultimately, helping clients master their most critical business issues,” he says.

Think Data Insights is also a certified Microsoft Gold partner, the highest level of Microsoft’s widely recognized partnership program.

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