Estonia, Good for Business, Markets and Companies, Mergers and take-overs, Technology, USA
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Friday, 29.03.2024, 00:23
Estonia's Nortal buys US cloud engineering co Dev9
The acquisition bolsters the group's expansion strategy in the United
States and enhances global services offerings with expertise in big data and
cloud transformation, Nortal said.
Dev9 is a
specialized cloud services software and consultancy firm employing a workforce
of 70. Nortal and Dev9 will merge their current U.S.
management and teams, becoming the foundation for Nortal's North American expansion. Dev9 CEO, Matt Munson, will continue to lead the Dev9 team as part of Nortal Group.
"Nortal and Dev9 join together through shared
business and cultural values," said Oleg Shvaikovsky, president at Nortal LLC and executive vice-president at Nortal Group. "We have a core belief of revolutionizing
businesses by creating meaningful technological impacts that transform the way
organizations operate and serve customers."
"This merger enriches our offerings, in the U.S. and globally, by enhancing
existing data-driven technology capabilities and adding significant depth to
cloud modernization," Shvaikovsky said.
He said that Nortal sees growth
potential both in cloud services, Dev9's
core business, in the United States, as well as in combining them with Nortal's existing services and longtime
experience in developing digital services and implementing complex reforms
having broad impacts both in Europe the Middle East.
Describing the United States as the uncontested leader in cloud services
and engine of innovation, whose role is boosted by global players such as Google and Amazon, Shvaikovsky said that their aim is to bring that competence
to Europe and the Nordic countries with the help of Dev9.
"For the past 8 years, Dev9
has assembled an exceptional team of world-class software development and cloud
transformation innovators who collaborate long-term with clients to tackle
their most complex technology initiatives," said Matt Munson, co-founder
and CEO of Dev9.
"Together with Nortal's
global delivery presence and business domain and industry expertise, Dev9 teams will now serve customers
round-the-clock with high caliber, end-to-end best practice solutions," he
said.
With a merged team in the U.S and an expanding global delivery team in
the Nordics and Europe, Nortal is
able to offer customers in the U.S. the unique combination of best-in-class
expertise across disciplines from modern software development, continuous
integration and delivery (CI/CD), to full cloud transformation, the press release
said.
It said that as one of the top North
American AWS (Amazon Web Services) Advanced
and Google Cloud Premier partners,
Dev9 delivers innovation through
software development rooted in CI/CD, automation, and cloud.
Following the consolidation, the number of workers of Nortal Group will rise to over
800.
To finance the transaction, Nortal
carried out a bond placement in the Baltic countries and Finland in which also Swedbank and SEB pension funds took part on a significant scale.