Founders bought out at Datatel

Datatel Inc.'s executive team signed an agreement to acquire the company from its founders, Ken Kendrick and Tom Davidson, company officials said.

Datatel is a higher-education technology and services provider based in Fairfax, Va.

The buyout is backed by investor groups Thoma Cressey Equity Partners and Trident Capital, according to Datatel. The current executive team will remain in place and Russ Griffith, Datatel's president and CEO, will also become chairman of the board.

Datatel's 2004 revenue exceeded $95 million, officials added.

"The resources and expertise of Thoma Cressey Equity Partners and Trident Capital will better enable Datatel to strengthen its position as a market leader," Griffith said.

About the Author

Doug Beizer is a staff writer for Washington Technology.

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