CI&T Acquires Somo to Accelerate Its Growth in EMEA - Seite 2

The base purchase price for the acquisition is £49 million (US$ 67 million), of which up to 25% will be paid in the form of Class A Common shares of CI&T, plus an earn-out clause of up to £9.8 million (US$ 13 million) based on future performance. Somo recorded approximately £25 million (US$ 34 million) in Net Revenue in 2021, a 41% growth compared to 2020. The completion of this transaction is subject to the satisfaction of customary closing conditions and is expected to happen during the first quarter of 2022.

About CI&T

CI&T (NYSE: CINT) is a global digital specialist, a partner in end-to-end digital transformation for 50+ Large Enterprises & Fast Growth Clients. As digital natives, we bring a 26-year track record of accelerating business impact through complete and scalable digital solutions. With a global presence in 8 countries with a nearshore delivery model, CI&T is the Employer of Choice for more than 5,500 professionals in strategy, data science, design and engineering, unlocking top-line growth, improving customer experience, and driving operational efficiency.

About Somo

Co-founded in 2010 by Nick Hynes and Carl Uminski, Somo is the UK’s leading independent digital product agency, delivering digital ambitions at pace and scale for some of the world’s largest brands and coolest start-ups. Somo has pioneered over 1000 products for over 100 world-leading brands including Audi, HSBC, Vanguard, Vodafone, Virgin Media, and many more. Somo has been recognised as Digital Transformation Company of the Year (CIO Applications Europe Magazine, 2021), #1 pure-play Design and Build agency (The Drum, 2021), #1 agency for creativity and innovation, digital strategy and software development (The Drum Recommends, 2020-21), and has repeatedly topped Best Place to Work rankings across the UK, US and Colombia.

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