Posted by Bangalore: ThoughtWorks on said that it has agreed to acquire Fourkind – a privately-held consulting services firm.
The Helsinki based Fourkind combines machine learning and data science with strategy, design and engineering to offer its services.
The Fourkind’ s acquisition will strengthen ThoughtWorks’ machine learning, data science, strategy, design and engineering capabilities. However, ThoughtWorks has not disclosed financial details of this transaction with the media.
This makes ThoughtWorks’ second acquisition in 2021. Last month, it acquired Gemini Solutions – a San Francisco bases privately held software development and consulting services firm for an undisclosed sum.
Both the acquisition announcements have come following the massive $720 million funding, ThoughtWorks raised mid-January this year at a valuation of $4.6 billion.
GIC, Siemens AG, Fidelity Management and Research LLC, and Mubadala Investment Company participated in the last month’s fundraising.
Founded in 2017, Fourkind has a 40-strong team of data scientists, machine learning experts, designers, engineers and strategists. It has worked with more than 80 organisations in 10 plus countries.
Fourkind’s 40 employees will continue to operate from their existing premises in Helsinki and Amsterdam. The founders and leadership team will remain in post after the acquisition to grow and evolve the business.
“We have been on the hunt for a company that will help us accelerate growth in our key strategic focus areas of data, digital transformation, enterprise modernisation and customer experience. We are delighted that Fourkind will be joining the ThoughtWorks family,” said Guo Xiao, President and CEO – ThoughtWorks.
The Fourkind team’s blend machine learning, data science, strategy, design and engineering. It helped their clients lower the perceived risk of adopting new approaches to artificial intelligence.
“We were impressed with their track record of delivering significant return on investment for their clients’ AI and machine learning investments. We believe that our complementary strengths and culture make Fourkind and ThoughtWorks a winning combination,” added Xiao.
“When we set up Fourkind, our vision was to help forward-looking organisations create futureproof services and products,” said Jonne Heikkinen, MD and one of the Founding Partners, Fourkind.
“We believe that being part of ThoughtWorks will offer us the opportunity to grow faster and be part of an agile and successful global team of like-minded passionate technologists who want to make an extraordinary impact in the world,” added Heikkinen.
This acquisition will grow Fourkind and expand ThoughtWorks’ European footprint. Also will significantly improve ThoughtWorks ability to support and service clients in Finland, the Netherlands and the Nordics.