Thoughtworks Acquires Leading Product Development Consultancy, Connected, To Rapidly Accelerate Product-Led Design And Engineering
Apr 27, 2022•over 3 years ago
Acquiring Company
Thoughtworks
Acquired Company
Product Development Consultancy
ChicagoAppsInformation TechnologySoftwareDescription
Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today announced its acquisition of privately-held, Canadian-based Connected, an end-to-end, product development service firm that partners with their clients to discover and deliver products. Together with Connected, Thoughtworks will advance its capabilities in solving business problems through product-led design processes, from defining the strategy to discovery and delivery.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed