Narayan AmmachchiBrazilian IT consultancy firm CI&T kept up its buying spree with the acquisition of Australian rival Transpire Technology, gaining access to several deep-pocketed clients in the South Pacific country.
Melbourne-based Transpire employs around 100 technology professionals and specializes in developing cloud applications and designing digital products.
We have some big news – we’re joining the global family of @ciandt, a NYSE listed global digital specialist. pic.twitter.com/XiltpTaWYJ
— Transpire (@transpire) August 17, 2022
What makes it an attractive buy is its client list and the amount of revenue it is generating. Transpire’s customers include the likes of Vodafone and Virgin Australia. The firm recorded $US15.5 million in revenue for the fiscal year ending June 2022.
“With Transpire, our clients will benefit from a comprehensive suite of end-to-end digital capabilities in addition to enhanced regional expertise,” said Felipe Rubim, APAC VP for CI&T.
“There are tremendous opportunities for growth for our collective employees as well as the incredibly diverse and talented pool of professionals in the region we are looking to tap into,” he added.
This is CI&T’s third acquisition in 2022. In months prior, the company bought London-based digital agency Somo and Brazilian IT provider Box1824. The Brazilian behemoth said it paid US$16.4 million for Transpire.
The Brazilian IT firm, which raised $200 million in market capital after listing its shares in the New York Stock Exchange, has often vowed to accelerate growth through acquisitions.
CI&T set its foot in Australia in August 2020, installing a delivery center in Brisbane.
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