UK – Global experience innovation company Valtech has acquired digital transformation consultancy Kin + Carta in a deal valued at £239m.
Valtech will add 1,900 consultants, engineers and data scientists to its global team through the acquisition. Kin + Carta’s footprint in the US and UK, along with its delivery centres in Latin America and southeast Europe, will strengthen Valtech’s presence in growth markets.
The transaction is funded by a combination of shareholder equity and external debt and sees Kin + Carta de-listed from the London Stock Exchange.
Valtech said the deal would allow the company to better support clients ‘looking to meet changing consumer expectations, build strong technology foundations, and drive sustainable growth through world-class experiences'.
Following the acquisition, Kin + Carta chief executive Kelly Manthey (pictured, left) will become chief executive of Valtech Americas, while chief financial officer Chris Kutsor, Kin + takes up the role of Valtech Americas CFO, both effective immediately. Manthey and Kutsor will also join Valtech’s executive committee.
Founded in 1993, Valtech is headquartered in London and operates in 23 countries, with clients including L’Oreal, LVMH, Mars and P&G.
The deal will bolster Valtech’s digital engineering, commerce, and experience design, with Kin + Carta’s cloud, product development, data and enterprise AI.
Valtech will also increase its retail, finance, automotive and public sector client portfolio through the deal, as well as gaining new business in the agriculture sector.
Olivier Padiou, chief executive, Valtech, said:
“By bringing Kin + Carta’s extensive expertise and client roster into the fold, we enter a new and exciting era. This means helping brands set new standards with intelligent and personalised experiences, powered by data and AI, that touch lives, grow businesses, and change how people experience the world.”
Kelly Manthey, chief executive, Kin + Carta, said:
“With clear cultural alignment, complementary capabilities, and a shared vision for our industry, we are much stronger together. Our clients and technology partners will see the immediate benefits of a better, broader range of services. Our people will benefit from expanded career opportunities.”
Kin + Carta works with companies to develop digital road maps, innovate and modernise their systems. Originally founded in the 1960s as a print company, it was known as St. Ives until 2018, when it re-positioned as a digital transformation business.
Kin + Carta previously owned a number of agencies, including research agency Incite and analytical consultancy Pragma, and has made various divestments in recent years, with Incite sold to Strat7 in 2021.
Sourced from: ResearchLive