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CI and T Acquires Australian Technology Consultancy Transpire
Thursday 18 August 2022

US-based digital specialist CI and T (NYSE: CINT) has executed a sale and purchase agreement to acquire Australian technology consultancy Transpire Technology Pty Ltd to enhance its growth in APAC, the company said.

Since 2009, Transpire has been the trusted technology partner of some of Australia's most innovative organisations, including Vodafone, Virgin Australia and ASX200 listed companies.

Headquartered in Melbourne, with team members across Australia, Transpire delivers digital experiences across several verticals, with a solid design-led, mobile-first, cloud-native approach.

CI and T's digital transformation expertise combines insight-driven digital strategy, customer-centric design, and engineering.

As part of this strategic acquisition, Transpire will add around 100 digital specialists to CI and T, further expanding the company's operations in the region.

The purchase price for the acquisition is AUD 23.4m (USD 16.4m). Transpire recorded AUD 15.5m (USD 10.9m) in net revenue in its fiscal year ended in June 2022.

The completion of this transaction is subject to the satisfaction of customary closing conditions and is expected to happen during 3Q22.
Details
Date Published: 18/08/2022

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