Grid Dynamics, a Ukrainian-founded, NASDAQ-listed digital transformation consultancy and solution provider, has acquired Tacit Knowledge, a major provider and integrator of digital commerce solutions.
“We are pleased to welcome Tacit Knowledge to the Grid Dynamics family. [This company] excels at consulting for top global brands, differentiate through a focus on digital transformation, and consistently deliver the highest level of quality. Tacit Knowledge’s locations are highly complementary to those of Grid Dynamics, enabling us to expand our capabilities and service more customers from nearshore locations,” stated Grid Dynamics CEO Leonard Livschitz.
The terms of the deal were not disclosed, but Grid Dynamics said that its available cash reserves were sufficient to finance it.
As noted by the Ukrainian tech blog AIN, “the merger will expand Grid Dynamics’ service and solution offerings, accelerate the growth of its new customer base, and strengthen its portfolio in Europe and Asia.”
Founded by Livschitz and his wife Victoria, both originating from Kharkiv (Kharkov), Grid Dynamics has kept its largest office in this city of Eastern Ukraine. It employs nearly 1,000 people in Ukraine, the press-service told Ukraine Digital News.
Headquartered in San Ramon, California, the company has other offices across the USA as well as in Western, Central and Eastern Europe.
Tacit Knowledge has a more modest team of around 180 employees. Headquartered in London, this company has other offices in Chisinau (Moldova), Mexico and San Francisco.
In December 2020, Grid Dynamics acquired Daxx, an IT service provider headquartered in the Netherlands with four development centers in Ukraine.