CTG (NASDAQ: CTG), an IT staffing and solutions firm based in Buffalo, New York, acquired Eleviant Technologies Inc., an IT solutions provider based in Dallas.

CTG paid $18.6 million for Eleviant, according to a regulatory filing. Of the amount, $17.4 million was paid in cash and the remainder in CTG common stock.

The deal adds approximately $10 million in annualized revenue.

“We not only share complementary technical skills, offerings and industry experience, but similar cultures, approaches and an unwavering dedication to client success on every project,” CTG President and CEO Filip Gydé said.

CTG reported the acquisition will bolster its offerings in artificial intelligence, machine learning and intelligent automation. With the deal, the company also aims to expand its capabilities in other areas such as cloud migration, mobile application development and emerging technologies such as blockchain.

Eleviant also offers software-as-a-service platforms, including its PeopleOne intranet solution. In addition, Eleviant’s business includes teams in Chennai and Coimbatore, India. It has clients in manufacturing, logistics, healthcare, finance and insurance.

“We believe this merger will strengthen our mission to help businesses elevate and scale with innovative digital transformation solutions,” Eleviant founder and CEO Jude Ramayya said.