AgileThought Merges with LIV Capital to Go Public

Nearshore IT services provider AgileThought Inc has merged with blank check company LIV Capital Acquisition Corp in order to raise money in the capital market.

The Texas-based company, backed by Mexico’s private equity firm Nexxus Capital, says the combined company will have a market value of US$491 million.

“Upon the closing of this transaction, the combined company will operate as AgileThought, Inc. and will remain listed on Nasdaq under the new ticker symbol “AGIL”, stated the IT provider in a press release.

AgileThought provides both onshore and nearshore services, with around 33% of its revenue coming from Latin America while the remaining from the United States.

Founded in 2004, AgileThought has grown through a series of acquisitions. It purchased as many as eleven small competitors in the past six years alone.

Its headcount stands at around 2,500 with most of these employees based out of Latin America, where it runs delivery centers in Cordeiro, Brazil; San Jose, Costa Rica; CDMX, Mexico, and Buenos Aires, Argentina.

AgileThought’s main customers are US-based financial services firms and large retailers.

“This transaction will significantly strengthen AgileThought’s balance sheet and provide us the ability to capture the substantial market opportunity for growth,” said Manuel Senderos, Chairman and Chief Executive Officer of AgileThought.