Digital Transformation Consulting M&A: Compass UOL Acquires Avenue Code
Brazilian digital transformation company Compass UOL, which is backed by holding company Digital Services, has acquired Avenue Code for an undisclosed sum.
This is technology M&A deal number 955 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Compass UOL Acquires Avenue Code
Compass UOL, founded in 1996, is based in São Paulo, Brazil. The company has 3,042 employees listed on LinkedIn. Compass UOL’s areas of expertise include outsourcing, integration, implementation, consulting, e-commerce, cloud, DevOps, agile development, environment management and automated testing.
Avenue Code, founded in 2008, is based in San Francisco, California. The company has 883 employees listed on LinkedIn. Avenue Code’s areas of expertise include strategy and consulting, enterprise agile coaching and transformation, web interface development, microservices, DevOps, native apps, machine learning and data science, platform implementations, enterprise integrations, payment systems, application management services and design.
Avenue Code has additional offices around the United States, Canada, Europe and Brazil. By joining the Compass UOL group, Avenue Code team members can now become global executives, the company said.
This is Compass UOL’s sixth acquisition and is part of the company’s overall strategy to expand its offering to its global customer base, according to the company.
Compass UOL Acquires Avenue Code: Executive Insight
Alexis Rockenbach, CEO, Compass UOL, commented:
“Avenue Code joins forces with Compass UOL to deliver digital transformation solutions in a market that is rapidly evolving with the advent of new trends such as the metaverse, blockchain, and tech-augmented reality. Together, we are positioned to uplevel the global services industry and we are committed to accelerating the growth and the expansion of Avenue Code’s business vision and to further invest in their great digital talent and leadership, which are the most relevant assets in this deal.”
Zeo Solomon, CSO, Avenue Code, said:
“Compass UOL’s culture and vision is in complete harmony with our aspiration for the Avenue Code’s journey. Furthermore, Compass UOL professes an ambitious global growth plan, which we now are extremely happy to be a part of —the alignment of values and the vision for building the next generation of global technology services were pivotal in closing the deal with Compass UOL.”
Gil Torquato, CEO, Digital Services, added:
“This acquisition is an important milestone that puts us in a strategic position in the digital transformation market, playing head-to-head with global competitors. We are genuinely excited and confident about an ever more promising future for our business.”