Kin and Carta acquires Spire Digital for $14.8 million

LONDON: Kin and Carta plc has announced the acquisition of Spire Digital, Inc., a private US-based digital transformation (DX) consulting firm for a cash consideration of $14.8 million.

 The acquisition supports Kin + Carta’s stated ambition to grow both organically and through strategic acquisitions that complement its client offering and expand its geographic reach. It is expected to be earnings-enhancing in the first full year of ownership.

Spire is fast growing, profitable and highly complementary to Kin + Carta’s Innovation pillar, which is the fastest growing part of its business and represents 56% of Kin + Carta’s FY19 net revenue. Spire has built a set of digital transformation (DX) services that are complementary to Kin + Carta’s and will expand Kin + Carta’s geographic reach to the western United States.

Located in Denver, Colorado, Spire provides digital innovation services for the Fortune 500 and mid-market growth firms. Spire is ranked first in the region and fifth globally for Custom Software Development by software developer and ratings and reviews site Clutch. The team at Spire is comprised of over 100 people with core expertise in technical design, development, software, engineering and product strategy.

Adam Hasemeyer, President, and Nick Coppolo, Chief Operating Officer, have been leading the business for the past three years and will remain as Spire senior management. Mike Gellman, Spire’s founder, will remain an advisor to Spire Digital. Spire will be integrated into the Kin + Carta Innovation platform in stages starting in the first year following completion of the Acquisition (“Completion”).

Commenting on the Acquisition, Kin + Carta’s Chief Executive Officer J Schwan, said: “The acquisition of Spire Digital is directly in line with our growth strategy, delivering a strategic foothold in the western United States with a best-in-class software design and engineering capability that adds to our fast growing Innovation pillar. Spire has a strong reputation of delivering highly innovative solutions and building a winning culture that’s hard to find. We’re looking forward to bringing the Spire Digital team into the Kin + Carta Connective.”

Adam Hasemeyer, President of Spire said: “We’ve grown Spire significantly in recent years and have established a strong reputation in the western US DX market. To realize our fullest potential, we recognized that we needed a partner with deeper resources and a broad geographic reach. We scouted the market from the largest global firms to niche players and decided on Kin + Carta as the perfect choice for Spire. We identify closely with the spirit of entrepreneurialism and agility that we found there and are excited to reach new heights as a part of this impressive organization.”

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