CI&T Acquires Somo to Urge up Its Reveal in EMEA

Creator of the article:

CAMPINAS, Brazil — CI&T (NYSE: CINT), a world digital specialist, broadcasts as of late the execution of a sale and assemble agreement to provide Somo Global Ltd (“Somo”), an award-winning digital product company headquartered in the UK, to tempo up its yelp in EMEA, the 2nd-greatest market for digital providers.

On this strategic traipse, Somo will be half of CI&T’s EMEA operation and enhance its rising operations by in conjunction with nearly 300 digital experts with deep ride in digital merchandise, working with about a of the enviornment’s greatest manufacturers in conjunction with Audi, Vanguard, Vodafone and Virgin Media, amongst others.

Commercial

Somo is certainly one of many UK’s main self sustaining digital product companies, identified by Econsultancy’s prestigious High 100 ranking (2019). With offices in the UK, USA and Colombia, Somo delivers digital ambitions at tempo and scale across a couple of verticals in conjunction with car, financial providers, utilities and telecom. Its solid management crew brings a confirmed notice file of handing over industry performance, winning and rising digital transformation programs internationally.

In 2021, Somo used to be identified because the “European Digital Transformation Company of the 365 days” by CIO Europe Journal, won the prestigious “The Drum Recommends” award for Application Pattern and Digital Draw, and topped Marketing campaign Journal and Big Situation to Work® rankings because the excellent topic to work for in the UK and Colombia. Prior to this, Somo used to be listed as unquestionably one of The US’s highest-scoring companies in Inc. magazine’s annual “Most effective Workplaces,” ranking because the excellent topic to work in South Carolina and D.C.

“Somo and CI&T have a same tradition – folks first, innovation-pushed and a solid recognition with world manufacturers. Together we will be ready to combine the capacity of a world company with the energy of a solid European player,” acknowledged Cesar Gon, CI&T’s founder and CEO.

“It’s an honor to be half of the CI&T family, who, love Somo, is a founder-led company with shared values. We build now not have any doubt that this deal will provide a a hit future for all of our stakeholders, in conjunction with our folks and possibilities. We are dedicated to strengthen CI&T’s world growth across EMEA, leveraging the in depth ride of Somo’s management crew in rising companies globally,” added Carve Hynes, CEO and Carl Uminski, COO and Co-Founders of Somo.

The imperfect own ticket for the acquisition is £49 million (US$ 67 million), of which up to 25% will be paid in the develop of Class A Extraordinary shares of CI&T, plus an bear-out clause of up to £9.8 million (US$ 13 million) in conserving with future performance. Somo recorded roughly £25 million (US$ 34 million) in Gain Revenue in 2021, a 41% yelp when compared with 2020. The completion of this transaction is topic to the pride of feeble closing stipulations and is expected to occur for the duration of the first quarter of 2022.

About CI&T

CI&T (NYSE: CINT) is a world digital specialist, a accomplice in halt-to-halt digital transformation for 50+ Super Enterprises & Instant Reveal Purchasers. As digital natives, we assert a 26-365 days notice file of accelerating industry affect by total and scalable digital solutions. With a world presence in 8 worldwide locations with a nearshore supply model, CI&T is the Employer of Preference for extra than 5,500 experts in intention, information science, form and engineering, unlocking high-line yelp, enhancing customer ride, and using operational effectivity.

Commercial

About Somo

Co-founded in 2010 by Carve Hynes and Carl Uminski, Somo is the UK’s main self sustaining digital product company, handing over digital ambitions at tempo and scale for about a of the enviornment’s greatest manufacturers and coolest originate-ups. Somo has pioneered over 1000 merchandise for over 100 world-main manufacturers in conjunction with Audi, HSBC, Vanguard, Vodafone, Virgin Media, and quite lots of extra. Somo has been recognised as Digital Transformation Company of the 365 days (CIO Applications Europe Journal, 2021), #1 pure-play Develop and Produce company (The Drum, 2021), #1 company for creativity and innovation, digital intention and energy trend (The Drum Recommends, 2020-21), and has over and over topped Most effective Situation to Work rankings across the UK, US and Colombia.

Cautionary observation on ahead-having a know about statements

This press release involves “ahead-having a know about statements” within the that implies of the “safe harbor” provisions of the US Non-public Securities Litigation Reform Act of 1995. All statements a form of than statements of historical fact are statements that will possibly be deemed ahead-having a know about statements, which encompass however are now not tiny to: expectations touching on to revenues and a form of financial or industry metrics; statements regarding relationships with possibilities; and any a form of statements of expectation or belief. The words “factor in,” “will,” “might possibly possibly perhaps,” “might possibly possibly perhaps want,” “would,” “estimate,” “continues,” “anticipates,” “intends,” “plans,” “expects,” “budget,” “scheduled,” “forecasts” and same words are intended to establish estimates and ahead-having a know about statements, however the absence of these words doesn’t mean that a press release is now not ahead-having a know about. Forward-having a know about statements utter our administration’s beliefs and assumptions easiest as of the date of this press release. You must study this press release with the knowing that our unswerving future results might possibly possibly be materially a form of from what we interrogate. These statements are topic to known and unknown dangers, uncertainties, and a form of things that will motive our unswerving results, levels of process, performance, or achievements to alter materially from results expressed or implied on this press release. Such possibility factors encompass, however are now not tiny to, these connected to the brand new and future affect of the COVID-19 pandemic on our industry and industry; the consequences of opponents on our industry; uncertainty regarding the establish a matter to for and market utilization of our providers; the flexibility to shield or produce new client relationships; total industry and financial stipulations; our capacity to efficiently integrate acquisitions; and our capacity to efficiently enact our yelp intention and strategic plans. Extra knowledge concerning these and a form of dangers and uncertainties are contained in the “Chance Factors” piece of CI&T’s registration observation on Invent F-1. Extra knowledge will be made available in our annual experiences on Invent 20-F, and a form of filings and experiences that CI&T might possibly possibly perhaps file once in a whereas with the SEC. Rather then as required by law, CI&T assumes no responsibility and doesn’t intend to interchange these ahead-having a know about statements, or to interchange the causes unswerving results might possibly possibly perhaps differ materially from these anticipated in these ahead-having a know about statements, even supposing new knowledge becomes available sooner or later.

This press release doesn’t utter a proposal to promote or a solicitation of a proposal to earn, nor shall there be any sale of these securities in any deliver or jurisdiction whereby such offer, solicitation or sale would be illegal prior to registration or qualification below the securities approved guidelines of this kind of deliver or jurisdiction.

Gaze source version on businesswire.com: https://www.businesswire.com/information/home/20220113005958/en/

Contacts

Investor Family contributors Contact:

Eduardo Galvão

[email protected]

Media Family contributors Contact

Kate Axelby

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