Thoughtworks Acquires Product Development Company Connected
This is technology M&A deal number 425 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Founded in 2014, Connected is an end-to-end product development service firm. The company has over 165 employees based primarily in Toronto.
The deal will allow Thoughtworks to advance its capabilities in solving business problems through product-led design processes, from defining the strategy to discovery and delivery, the company said. Connected’s entire team will join Thoughtworks.
Thoughtworks is a publicly-traded company, having IPOed in September 2021 after filing for an IPO in August of the same year. The company is no stranger to M&A, having previously acquired Fourkind and Gemini Solutions.
Thoughtworks Acquires Connected: Leadership Insight
Guo Xiao, president and CEO, Thoughtworks, commented:
“Creating compelling digital experiences and products is crucial to successfully captivating customers and ultimately, driving brand equity and revenue growth. With the strong alignment in our diverse and cultivating cultures, I am excited about the tremendous opportunity Thoughtworks and Connected have to empower our clients to embrace digital and deliver extraordinary impact across the enterprise.”
Tammy Chiasson, president, Connected, said:
“We are thrilled to join the Thoughtworks team to continue our common goal of connecting strategy, design and execution, using cross-functional teams to develop better products that deliver exceptional value to our clients. Teaming up with Thoughtworks gives us an amazing opportunity to apply our product thinking approach and expertise at an outstanding scale. We look forward to continuing our deep integration and seamless work with clients that have enabled us to drive long-standing partnerships with our world-class clients.”