Nearshore software development firm iTexico has been acquired by Plano, Texas-based IT consultant called Improving.
The merger will increase Improving’s annual earnings to approximately USD $115 million, adding 300 professionals to its workforce.
iTexico is one among a very few agile software providers who grew rapidly by leveraging Mexico’s high-skilled talent and low operational cost. Although headquartered in Austin, Texas, most of its employees work out of its facilities in Mexican cities of Guadalajara and Aguascalientes.
It claims to have served more than 300 US clients, including the likes of Marriott International and VMware. Its digital offerings cover areas such as design, mobile cloud, and artificial intelligence (AI).
Improving looks to be using acquisitions to get a hold of new technology tools and expand to new markets. In October last year, it purchased Frisco’s Code Authority. This came on the heels of its acquisition of Innovative Architects, a small IT provider headquartered in Atlanta.
“The mutual benefits of joining forces with a business-like iTexico are significant. We are now able to serve both new and existing customers in ways that neither company alone could prior to our merger,” states Curtis Hite, CEO of Improving. “Equally as important, our companies’ values and cultures seem unusually aligned.”
Improving, owned by private equity firm Trinity Hunt Partners, provides a variety of services, including app development, technical consulting, training, and hiring.
“The merger will significantly strengthen the breadth and depth of the technical consulting, digital services and training offerings,” claimed Improving in a press release.
“We have remarkable synergies as a culture-rich organization that rewards innovation and involvement,” said Anurag Kumar, CEO of iTexico, who will continue to work for the merged entity.