Novitex and SourceHOV

Head count: 23,000 employees combined

Annual revenue: $900 million

Purchase price: $2.8 billion

Date of announcement: Feb. 23

Novitex and SourceHOV have agreed to merge, creating a $1.5 billion, 23,500-person IT services and MSP powerhouse that caters to 60 percent of the Fortune 100.

Stamford, Conn.-based Novitex and Irving, Tex.-based SourceHOV are being brought together in a $2.8 billion transaction managed by St. Louis-based Quinpario, a special purpose acquisition company.

Upon the close of the deal, expected during the second quarter, the combined, publicly-traded company will be called Exela Technologies.

Novitex is currently owned by Apollo Global Management while SourceHOV is majority owned by HandsOn Global Management. The new company's board of directors will consist of eight members, three of whom will be nominated by HandsOn Global Management, two of whom will be nominated by Apollo, and three of whom will be independent directors.