Grid Dynamics Acquires UK-Based Tacit Knowledge; Enhances digital commerce capabilities & expands delivery footprint across U...
May 29 2021 - 10:59PM
Business Wire
Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid
Dynamics”), a leader in enterprise-level digital transformation,
today announced it has acquired Tacit Knowledge, a Pitney
Bowes (NYSE:PBI) owned company, and leading provider of
end-to-end digital commerce solutions for global brands.
Founded in 2002, Tacit Knowledge is a global provider of digital
commerce solutions, serving customers across the UK, North America,
Continental Europe, and Asia. The company serves leading global
brands across technology, CPG, financial, and retail markets with
Visa, LVMH, and Shimano being among its top clients. As a part of
the acquisition, the entire team of more than 180 employees across
the UK, Mexico, Moldova, and the United States, including senior
management, will join Grid Dynamics. The acquisition was financed
using Grid Dynamics’ available cash reserves.
“We are pleased to welcome Tacit Knowledge to the Grid Dynamics
family. Tacit Knowledge has consistently demonstrated values that
are well aligned with those of Grid Dynamics. They excel at
consulting for top global brands, differentiate through a focus on
digital transformation, and consistently deliver the highest level
of quality. Tacit Knowledge’s locations are highly complementary to
those of Grid Dynamics, enabling us to expand our capabilities and
service more customers from nearshore locations.” Leonard
Livschitz, CEO, Grid Dynamics.
“We believe that Grid Dynamics is a terrific partner for Tacit
Knowledge. They have the scale and reputation to deal with the
Fortune 500 and even more importantly, Grid Dynamics has a
comprehensive understanding of the digital commerce space. We are
excited to become a part of the larger family and look forward to
this new stage of growth.” James Bullock, GM, Tacit Knowledge.
About Tacit Knowledge
Tacit Knowledge is a global consultancy focused on digital
commerce. Tacit have worked at the nexus of commerce and content
since 2002, applying Silicon Valley innovation and know-how to
global retailers and brands. For more information visit
www.tacitknowledge.com.
About Grid Dynamics
Grid Dynamics (Nasdaq: GDYN) is a digital-native technology
services provider that accelerates growth and bolsters competitive
advantage for Fortune 1000 companies. Grid Dynamics provides
digital transformation consulting and implementation services in
omnichannel customer experience, big data analytics, search,
artificial intelligence, cloud migration, and application
modernization. Grid Dynamics achieves high speed-to-market,
quality, and efficiency by using technology accelerators, an agile
delivery culture, and its pool of global engineering talent.
Founded in 2006, Grid Dynamics is headquartered in Silicon Valley
with offices across the US and Western, Central, and Eastern
Europe. To learn more about Grid Dynamics, please visit
www.griddynamics.com.
Forward-Looking Statements
This communication contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 that are not
historical facts, and involve risks and uncertainties that could
cause the actual results of Grid Dynamics to differ materially from
those expected and projected. These forward-looking statements
include, without limitation, statements about our products’
qualities and capabilities.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside Grid Dynamics’ control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to, any factors creating issues with the quality and
capabilities of our products and other risks and uncertainties
indicated in Grid Dynamics’ filings with the SEC.
Grid Dynamics cautions that the foregoing list of factors is not
exclusive and cautions readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Grid Dynamics does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statements are based. Further information about
factors that could materially affect Grid Dynamics, including the
results of its operations and financial condition, is set forth
under the “Risk Factors” section of the Company’s quarterly report
on Form 10-Q filed May 6, 2021 and in other periodic filings Grid
Dynamics makes with the SEC.
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Grid Dynamics Investor Relations:
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