Grid Dynamics acquires Mutual – GuruFocus.com
- The acquisition will enhance Grid Dynamics’ digital transformation portfolio to meet the growing demand to design and develop next-generation digital experiences for global brands.
- With its decades of experience delivering technical innovation to Fortune 500 clients and access to a highly-skilled Indian talent pool, Mutual Mobile brings digital experiences to life for global brands through an integrated approach to design and technology with a deep understanding of mobile devices, the Internet of Things, and virtual, augmented, and mixed reality environments.
- Mutual Mobile’s main industry verticals are technology services, healthcare, automotive, and finance.
- The acquisition supports Grid Dynamic’s objectives to diversify its global talent force and strengthen its prime position through carefully selected acquisitions.
SAN RAMON, CA / ACCESSWIRE / December 27, 2022 /grid dynamics Holdings, Inc. (NASDAQ:GDYN) (Grid Dynamics), a leader in digital transformation services and solutions, today announced the acquisition of Mutual Mobile, a leader in innovation that brings digital experiences to life through an integrated approach to design and technology. With around 200 employees in India and North America, Mutual Mobile will contribute significantly to supporting Grid Dynamics’ goal of diversifying its global customer base and enabling quality engineering talent to join the company.
Founded in 2009, mutual mobile, based in the US and India, provides end-to-end design and development of next-generation applications, combining mobile, augmented/virtual/mixed reality, and cloud edge/IoT practices. The company is also known for providing services related to cloud-native development, product design, and custom software engineering for technology startups as well as Fortune 500 companies. The company has developed powerful award-winning technical solutions for leading global brands across numerous industry verticals, with Technology, Healthcare, Automotive and Financial Services representing the top verticals by revenue.
“The acquisition of Mutual Mobile accelerates our strategic expansion into the Indian engineering market and further solidifies Grid Dynamics’ commitment to global growth. His technological leadership and deep engineering skills, particularly in the area of mobile technologies and UX expertise, will enhance our ability to mobilize highly-skilled teams to support our clients in creating innovative end-to-end digital solutions. With the acquisition of Mutual Mobile, we have continued to strengthen our position as a global technology company,” said Leonard Livschitz, CEO of Grid Dynamics. .
“Partnering with Grid Dynamics enables Mutual Mobile to offer our customers new solutions well beyond the realm of emerging technologies. Grid Dynamics’ immense service offerings mean our customers now have access to a powerhouse capable of delivering unmatched business results.” Most importantly, they are joining an organization that shares our philosophy that incredible employees are paramount to unleashing incredible innovation.” said John Arrow, CEO of Mutual Mobile.
About Mutua Mobile
Headquartered in Austin, TX, Mutual Mobile brings digital experiences to life for global brands through an integrated approach to design and technology and specializes in using emerging technology to design and develop new apps. Mutual Mobile’s core offering spans mobile and edge computing, augmented and mixed virtual reality, Internet of Things (IoT), connected devices and conversational interfaces.
About grid dynamics
Grid Dynamics (Nasdaq: GDYN) is a provider of digital native technology services that accelerate growth and strengthen 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 and developersand modernization of applications. Grid Dynamics achieves high speed to market, quality, and efficiency through the use of technology accelerators, an agile delivery culture, and its global engineering talent pool. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices in the US, Mexico, UK, Netherlands, Mexico, Switzerland, India, and Central and Eastern Europe.
For more information on Grid Dynamics, visit www.griddynamics.com. follow us Facebook, TwitterY LinkedIn.
This release 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 actual results of Grid Dynamics. differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes”, “estimates”, “anticipates”, “expects”, “intends”, “plans”, “may”, “will”. , “potential”, “projects”, “predicts”, “continues” or “should”, or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, but are not limited to, quotes from management and statements about the potential benefits of the Mutual Mobile acquisition.
These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are beyond the control of Grid Dynamics and are difficult to predict. Factors that may cause such differences include, but are not limited to, our ability to successfully integrate Mutual Mobile’s business, technology, people and operations; acquisition-related costs; if our market grows as expected; the competitive environment and competitive responses to the acquisition; general business and market conditions; any unforeseen impact of accounting for the acquisition; and other risks and uncertainties indicated in Grid Dynamics’ filings with the SEC.
Grid Dynamics cautions that the above list of factors is not exclusive. Grid Dynamics cautions readers not to place undue reliance on any forward-looking statement, which speaks only as of the date it was made. Grid Dynamics does not assume or accept any obligation or commitment to post any update or revision to any forward-looking statement to reflect any change in its expectations or any change in the events, conditions or circumstances on which such statement is based. More information about factors that could materially affect Grid Dynamics, including its results of operations and its financial situation. Grid Dynamics does with the SEC.
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FOUNTAIN: Network Dynamics – Mutual Mobile
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