Luxoft smashes it with Smashing Ideas acquisition
Software development company Luxoft has acquired Seattle-based innovation agency Smashing Ideas to bolster its digital research, strategy, and design capabilities, reports Julie Muhn at Finovate.
Financial details not disclosed. Well that ain’t smashing.
The Switzerland-based firm acquired it from book publisher Penguin Random House, which purchased the company in 2011, for an undisclosed amount. The deal marks Luxoft’s tenth acquisition.
The acquisition is expected to support Luxoft’s digital transformation arm, Luxoft Digital. It will also expand Smashing Ideas’ range of services and offer it the infrastructure needed to serve a more global client base.
“This allows us to bring products to market faster,” says Smashing Ideas CEO Brian Burke. “Luxoft’s deep technical expertise in blockchain, internet of things (IoT), and machine learning amplifies the enterprise scale we can provide.”
Luxoft is a publicly-traded company listed on the New York Stock Exchange with a current market cap of $1.2 billion.
Founded in 2000, Luxoft has more than 12,900 employees in 21 countries.
Earlier this spring, the company partnered with Softbank Robotics America to build the software to enable individuals and companies to engage with Softbank’s robot, Pepper.
Last autumn/fall, Luxoft acquired wealth management consultancy Unafortis.
