CI&T Acquires Box 1824: Joining Forces to Envision and Materialize the Future

Rhea-AI Summary

CI&T (NYSE: CINT) has announced the acquisition of 100% of BOX 1824 PLANEJAMENTO E MARKETING LTDA. The São Paulo-based strategic consulting firm is recognized for its 3D methodology, which connects behavioral trends with effective business strategies. This acquisition aims to enhance CI&T's global strategic capabilities by integrating Box 1824's team of around 40 senior business strategists. Notable past clients include Itaú, Nike, and Google. Box 1824 will operate independently under the CI&T umbrella, with its CEO, Paula Englert, continuing in her role.

Positive

• Acquisition of Box 1824 enhances CI&T's strategic capabilities.
• Box 1824's proprietary 3D methodology will improve CI&T's service offerings.
• Integration of approximately 40 senior strategists expands CI&T's talent pool.
• Collaboration with high-profile clients like Itaú and Nike strengthens market position.

Negative

• Acquisition costs could strain financial resources if not managed effectively.
• Integration challenges may arise, potentially affecting operational efficiency.

CAMPINAS, Brazil--(BUSINESS WIRE)-- CI&T (NYSE: CINT), a global digital specialist, announces today the acquisition of 100% of BOX 1824 PLANEJAMENTO E MARKETING LTDA. ("Box 1824"), an award-winning future-focused strategic consulting firm headquartered in São Paulo, to accelerate its global strategic capabilities.

Box 1824 is a unique company, a hybrid between research, consultancy, business strategy, and future hub. It is globally recognized for Detect, Decode, and Direct - a proprietary methodology called 3D - behavior trends and tech changes, and connects those movements with effective, practical, and future-focused supra strategic plans to its clients.

Box 1824 has been bridging the gap between future and present tenses for almost two decades and adds a multifunctional team of around 40 senior business strategists to CI&T. For the last 18 years, Box 1824 has partnered with global clients like (i) Itaú, the biggest bank in Latin America, to craft its purpose, future, insights, and portfolio in order to shift the category on a regional level; (ii) Nike, unlocking the full potential of sports from an inclusive perspective, and (iii) powerhouses like Google, providing new guidelines for their content and products. Other clients include Novartis, Disney, XP Investments, Google, NuBank, and Spotify.

“Box 1824, founder-led like us, is fully complementary to CI&T. Box 1824 is the top global zeitgeist decoders, and we are the strategy+design+tech enablers. I strongly believe that Box's 3D methodology will dramatically enhance our end-to-end digital capabilities and the value we create for our clients. I am really excited about it,” said Cesar Gon, CI&T's founder and CEO.

“We've been helping global companies create and strategize their futures. Now, as part of the CI&T Family, we will be able to offer the continuation of the journey up to the implementation, a key factor to make sure that tipping points don't get lost in execution. This is a great opportunity for us and a great offer to our existing and potential new clients,” added Paula Englert, CEO of Box 1824.

Box 1824 will remain as an independent operation - part of the CI&T Family - and Paula Englert will continue to be Box 1824's CEO.

About Box 1824

Future-focused Strategic Consulting - Box 1824 is a hybrid between a research and future company and a strategic consultancy. Being multifaceted allows it to develop projects from the first insight to their completion. The company was born out of the ability to study behaviors and map the culture. The 3D methodology allows the connection between the present and the future of businesses. Starting in Detect, which indicates new realities and contexts, going to Decode, where we translate the zeitgeist, and finally the Direct, where we transform visions of the futures and behavior mapping into business strategy. For the last 18 years, Box 1824 has been a strategic partner to Itau, Stellantis, Disney, Telefônica, Nike, Google, Raia Drogasil, and other global players.

About CI&T

CI&T (NYSE: CINT) is a global digital specialist, a partner in end-to-end digital transformation for 100+ Large Enterprises & Fast Growth Clients. As digital natives, we bring a 27-year track record of accelerating business impact through complete and scalable digital solutions. With a global presence in 9 countries with a nearshore delivery model, CI&T is the Employer of Choice for more than 6,400 professionals in strategy, data science, design, and engineering, unlocking top-line growth, improving customer experience, and driving operational efficiency.

Cautionary statement on forward-looking statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, which include but are not limited to: the statements under "Business outlook," including expectations relating to revenues and other financial or business metrics; statements regarding relationships with clients; and any other statements of expectation or belief. The words “believe,” “will,” “may,” “may have,” “would,” “estimate,” “continues,” “anticipates,” “intends,” “plans,” “expects,” “budget,” "scheduled,” “forecasts” and similar words are intended to identify estimates and forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from what we expect. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to differ materially from results expressed or implied in this press release. Such risk factors include, but are not limited to, those related to: the current and future impact of the COVID-19 pandemic, the ongoing war in Ukraine and economic sanctions imposed by Western economies over Russia on our business and industry; the effects of competition on our business; uncertainty regarding the demand for and market utilization of our services; the ability to maintain or acquire new client relationships; general business and economic conditions; our ability to successfully integrate Dextra and Somo; and our ability to successfully execute our growth strategy and strategic plans. Additional information concerning these and other risks and uncertainties are contained in the "Risk Factors" section of CI&T's annual report on Form 20-F. Additional information will be made available in our annual reports on Form 20-F, and other filings and reports that CI&T may file from time to time with the SEC. Except as required by law, CI&T assumes no obligation and does not intend to update these forward-looking statements or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220531005988/en/

Investor Relations Contact:

Eduardo Galvão

egalvao@ciandt.com

Media Relations Contact:

Zella Panossian

ciandt@illumepr.com

Source: CI&T Inc.

FAQ

What is the purpose of CI&T's acquisition of Box 1824?

The acquisition aims to enhance CI&T's global strategic capabilities and improve service offerings through Box 1824's innovative 3D methodology.

When was the acquisition of Box 1824 announced?

CI&T announced the acquisition of Box 1824 on a recent date, as stated in the press release.

How will the acquisition impact CI&T's client services?

The acquisition is expected to enhance CI&T's client services by incorporating Box 1824's strategic consulting expertise and methodologies.

What is BOX 1824's reputation in the industry?

BOX 1824 is known for its award-winning strategic consulting and innovative methodologies, having worked with major clients such as Nike and Google.

Will BOX 1824 operate independently after the acquisition?

Yes, BOX 1824 will remain an independent operation under the CI&T umbrella, continuing to be led by its CEO, Paula Englert.