Daida, a national provider of business process services, document digitization, digital workflow, and enterprise content management services, announced the acquisition of Foveonics Document Solutions, a New Jersey-based leader in document scanning, digital records outsourcing, and enterprise content management solutions serving state and local governments. The transaction represents Daida’s sixth add-on acquisition under the ownership of HiGro Group and its affiliates, and the first of two acquisitions Daida completed in 2026.
Foveonics has built a position across New Jersey’s government sector, serving counties and municipalities for more than 20 years, with its platform embedded in the daily workflows of high-volume, compliance-intensive government operations managing structured and unstructured data across records management, permitting, public health, and court systems. The combined organization now serves more than 500 state and local government clients nationally. The acquisition also includes DocumentSync, Foveonics’ proprietary cloud-based document management platform purpose-built for government records operations, which has more than doubled in revenue every year since its launch and is used by 100% of Foveonics’ government clients, with integration into professional training programs for county clerks across New Jersey through a partnership with Rutgers University.
The transaction was supported through a combination of cash on hand and debt financing provided by Lafayette Square LLC, with financial terms not disclosed. Moore & Van Allen PLC served as legal advisor to Daida, Sills Cummis & Gross P.C. served as legal advisor to Foveonics, and Aprio provided financial advisory and due diligence support to Daida. Founded in 1964 and headquartered in Edison, New Jersey, Daida serves organizations nationwide across state and local government, healthcare, financial services, and commercial sectors.
KEY QUOTES:
“We don’t simply acquire companies — we acquire capabilities and people. Foveonics is one of the most well-run businesses I’ve evaluated in this sector over the past two years.”
“The owners built something exceptional: a platform with deep government domain expertise, genuine client loyalty, and a growth trajectory that only accelerates as part of our national platform. This acquisition gives us density in a market we’re committed to leading — and it gives us the leadership talent to get there faster.”
Natalie Schubert, CEO, Daida
“We built Foveonics to serve governments the right way — with precision, accountability, and long-term partnership.”
“Joining Daida gives us the national infrastructure to bring that model to governments across the country. We are not stepping back — we are stepping up, as part of Daida’s leadership team, to help build something much bigger.”
Greg DeTommaso, Chief Revenue Officer, Foveonics
“This transaction reflects HiGro’s conviction that the data and document management sector is entering a period of sustained, technology-driven transformation.”
“AI and automation are reshaping how governments and enterprises manage information. Daida is building the most differentiated platform in this space, and Foveonics accelerates that mission meaningfully.”
Ernest Lyles, Managing Partner, HiGro
