CI&T Acquires Somo in a Landmark Merger of Digital Giants
CI&T, a global giant in the information technology with its roots in Brazil has acquired Somo Global Ltd., another tech leader which is an award-winning digital product agency headquartered in the UK as per news released by Somo Global. CI&T is one of the top contributors for Drupal publicly recognized by the community and the association by keeping their logo in the footer of Drupal.org website.
This acquisition opens a wider door for CI&T to access European multinational corporations like Audi, Skoda, Siemens, and Virgin Media.
“Since launching Somo in 2010, we’ve formed fantastic client relationships, built 1000s of digital products, won countless awards and developed some of the best talent in our industry. Rest assured all of this will continue to happen, even faster, with greater scale, under a new name, CI&T.”
Says Somo’s (now CI&T) website.
“Somo and CI&T have a similar culture – people first, innovation-driven and a strong reputation with global brands. Together we will be able to combine the power of a global company with the strength of a strong European player”,
says Cesar Gon, CI&T’s founder and CEO.
The new partnership will enhance CI&T’s operations in Europe and will add almost 300 new digital specialists with deep expertise in digital products across a range of several verticals, as well as a strong leadership team with a proven track record.
The leaders of Somo are still its founders, Nick Hynes and Carl Uminski keeping the high name of one of the most valuable companies in the UK. Somo reported net revenue of US$34 million for 2021, a staggering 41% increase from the previous year.
SI Partners acted as lead sell-side adviser to Somo, identifying the purchaser and negotiating the transaction to completion, as per the news release pushed out by them.
Ci&T went public in November 2021, raising nearly $200 million in market capitalization. This is the company’s first acquisition after listing shares on the New York Stock Exchange, an indication that more such acquisitions would come in the days to come.
CI&T is a global digital specialist and partner in end-to-end digital transformation. It has global operations and a 26-year history of accelerating business impact through complete and scalable digital solutions.
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