Diversified Systems Resources, Ltd
How we got $106.4M
Based on its 438 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 44 years (since 1982)
- Family in the business (Jared Rakes, Director of Contracts & Sales Strategies)
From public records and the company's website, not a statement that it's for sale.
What they do
DSR provides business internet connectivity, provisioning, technical support and wholesale network services to local and national businesses, from small startups to Fortune 1000 corporations. It is based in Bartlesville, Oklahoma.
From the company's website. Industry: IT & software.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- Laredo Petroleum · Tulsa, 41 mi · $1.95B
- Aaon, Inc. · Tulsa, 43 mi · $1.44B
- Integrated Service Co Llc · Tulsa, 39 mi · $1.21B
- NORDAM Nacelle & Thrust Reverser Division · Tulsa, 34 mi · $951.2M
- Webco Industries, Inc · Sand Springs, 43 mi · $870.6M
Estimated value over time
▲ 73% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| DIVERSIFIED SYSTEMS RESOURCES, LTD this business | $100.7M | — |
| TRIGENT TECHNOLOGIES LLC Bartlesville · 2 employees | $446K | 2.4 mi |
| KONTEMPORARY KEYBOARDS, INC. DBA KKI TCHNOLOGIES Bartlesville | $1.3M | 3.1 mi |
| RAY VARGAS Dewey · 1 employees | $364K | 5.1 mi |
| INNOVATIVE INSPECTION SOLUTIONS LLC Ramona · 2 employees | $384K | 17.1 mi |
| OSAGE INNOVATIVE SOLUTIONS Skiatook · 10 employees | $3.1M | 26.2 mi |
| CORNSILK COMPANY Collinsville · 1 employees | $271K | 28.5 mi |
The full calculation
| Employees reported to the SBA | 438 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $146.3M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $69.3M |
| Estimate: the two combined (geometric mean) | $100.7M |
| EBITDA margin (industry, adjusted for size) | 12% |
| EBITDA = revenue × margin | $11.8M |
Brought up to date: prices are 10% higher than in the benchmark's year and Oklahoma employment in this industry has grown 39% since 2020, both included above.
| Estimated value = EBITDA × typical sale multiple | $106.4M |
| Multiple for this size and industry | 9× |
| Value range | $63.9M – $166.0M |
| Revenue range | $75.5M – $130.9M |
| EBITDA range | $8.9M – $15.4M |
| Industry (NAICS) | Other Computer Related Services (541519) |
Low confidence: the employee-based and payroll-based estimates differ by more than 2×.
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“Founded in 1982 by the late John H. Bond, who served as CEO until his passing in 2023, DSR began as a consulting firm and quickly turned into a flourishing business.”
Leadership
- JBJennifer Bond HobbsCo-Owner and Co-CEO · Company website · source
- RBRebecca Bond TimmonsCo-Owner and Co-CEO · Company website · source
- SSSteve SnipesVice President of Global Sales · Company website · source
- GRGeorgiana RockfordVice President of Operational Finance · Company website · source
- JRJared RakesDirector of Contracts & Sales Strategies · Company website · source
- KRKendra RakesDirector of Organizational Development & Customer Care · Company website · source
- TBTravis BoggsVice President of Administrative Services · Company website · source
- TPTom PerrigoSenior Manager of Technology Infrastructure · Company website · source
- TMTiffani MilesSenior Manager of Provisioning Services · Company website · source
- CWCharles W.B. BaileySenior Manager of Technical Services · Company website · source
- MLMichael LaughlinManager of Information Technology · Company website · source
Advisors
- BankingSolutions North BankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| Solutions North Bank PPP 2020 | All 13 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/8/2020 | first | $3.1M | 438 |
2 locations
| 3901 SE ADAMS RD | Bartlesville | This listing |
| 401 S Dewey Ave | Bartlesville | View |
Revenue, profit and value are for the whole company.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Diversified Systems Resources, Ltd
Diversified Systems Resources, Ltd is an it & software company in Bartlesville, Oklahoma, in business since 1982. It is owned by Larry Rakes (President). Its estimated annual revenue is about $100.7M, with roughly $11.8M of EBITDA. It has about 438 employees. Its estimated business value is $106.4M (likely range $63.9M–$166.0M). It has 2 locations.
Common questions
- Who owns Diversified Systems Resources, Ltd?
- Diversified Systems Resources, Ltd is owned by Larry Rakes (President), according to public sources such as the company's website or filings.
- How much revenue does Diversified Systems Resources, Ltd make?
- SeeBITDA estimates Diversified Systems Resources, Ltd's annual revenue at about $100.7M (likely between $75.5M and $130.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Diversified Systems Resources, Ltd worth?
- About $106.4M, roughly 9× its estimated EBITDA of $11.8M, typical for a it & software company its size. Likely range: $63.9M–$166.0M.
- How many employees does Diversified Systems Resources, Ltd have?
- About 438, as reported on its PPP loan.
- When was Diversified Systems Resources, Ltd founded?
- Diversified Systems Resources, Ltd has been in business since 1982.