Digital transformation consultancy Kin + Carta has been acquired in a deal worth 拢239 million.
Rival Valtech, backed by private equity firm BC Partners in 2021 in a deal which valued it at 拢1.4 billion, has finalised the strategic acquisition. Both are headquartered in London.
Valtech said the deal would enable it to 鈥榖etter support Fortune 500 and household-name brands looking to meet changing consumer expectations, build strong technology foundations and drive sustainable growth through world-class experiences鈥�.
鈥淰altech鈥檚 vision has always been to become the world鈥檚 most influential experience innovation company. This acquisition marks a pivotal moment in achieving that,鈥� said Olivier Padiou, CEO.
鈥淏y bringing Kin + Carta鈥檚 extensive expertise and client roster into the fold, we enter a new and exciting era.聽
鈥淭his means helping brands set new standards with intelligent and personalised experiences, powered by data and AI, that touch lives, grow businesses, and change how people experience the world.鈥�
The transaction, valued at 拢239m, is funded by a combination of shareholder equity and external debt and sees Kin + Carta delisted from the London Stock Exchange.聽
Kelly Manthey, Kin + Carta CEO, will become CEO of Valtech Americas and Chris Kutsor, Kin + Carta CFO, will take the role of Valtech Americas CFO, both effective immediately. They will also join Valtech鈥檚 executive committee.
Manthey added: 鈥淎s two purpose-driven companies, it felt natural for Valtech and Kin + Carta to join forces.
鈥淲ith clear cultural alignment, complementary capabilities, and a shared vision for our industry, we are much stronger together.聽
鈥淥ur clients and technology partners will see the immediate benefits of a better, broader range of services. Our people will benefit from expanded career opportunities.鈥�
The transaction will bring Valtech close to delivering $1 billion in revenue.聽
Kin + Carta鈥檚 sizeable footprint in the US and UK, alongside its Latin America and South East Europe delivery centres, further strengthens Valtech鈥檚 presence in critical growth markets and adds 1,900+ consultants, engineers, and data scientists to its 6,000-strong global team.