Nagarro prepares for metaverse with RipeConcepts
Nagarro has announced its agreement to acquire RipeConcepts, enhancing its digital creative capabilities. Headquartered in Salt Lake City, RipeConcepts specializes in high-quality, multi-channel creative services such as design, illustration, and 3D modeling, boasting revenues of approximately 10 million Euro in 2021. This acquisition will facilitate Nagarro's strategy to innovate in the evolving metaverse landscape and leverage the skilled workforce in the Philippines. The deal is expected to strengthen Nagarro's offerings for its Fortune 500 and unicorn clients.
- Acquisition of RipeConcepts enhances Nagarro's digital creative capabilities.
- Access to a highly educated workforce in the Philippines.
- Strengthening of offerings related to the evolving metaverse strategy.
- None.
MUNICH, Jan. 24, 2022 /PRNewswire/ -- Nagarro, a global leader in digital engineering, has reached an agreement with the shareholders of RipeConcepts, a leader in global digital creative services, to bring the companies together.
Headquartered in Salt Lake City, USA, with the majority of its employees in Cebu, Philippines, RipeConcepts positions itself as 'digital lightning in a bottle' and delivers high quality, multi-channel creative content at scale. The company especially excels in the creative digital disciplines of design, illustration, 3D modelling, animation and marketing. Its clients include Fortune 500 companies as well as Silicon Valley unicorns. It has over 650 full-time employees and 2021 revenues in the region of 10 million Euro. The company has won several design awards.
For Nagarro, the transaction strengthens its design and creative capabilities. These enhanced capabilities could be deployed to improve existing offerings and also to develop new offerings related to a vision of a 'metaverse' future. In addition, the transaction provides Nagarro access to the highly educated workforce in the Philippines.
Paul Lyon, founder/CEO at RipeConcepts, and an award-winning entrepreneur, states, "We at RipeConcepts consider ourselves a unique boutique and, like Nagarro, love to solve problems for our Fortune 500 and unicorn clients. After 30 years of successful entrepreneurship and multiple M&A processes, I can say that it's rare to meet a more 'authentic' group of forward-thinking global entrepreneurs than the folks at Nagarro, especially given their corporate design and culture to match. We couldn't be more thrilled to be partnering with a like-minded team of savvy world-class digital engineers. I am excited about our future together."
Manas Fuloria, co-founder at Nagarro, states, "Some things are meant to happen. We were lucky to be introduced to RipeConcepts and Paul by a valued client some years ago, and we stayed in touch. Paul's entrepreneurial vision and energy coupled with the execution ability of his colleagues, especially that of President and COO Miles Nepomuceno, have resulted in a truly impressive business. This is a deliberate, strategic acquisition for Nagarro given the direction in which consumer technology is heading. We believe that by putting together our traditional capabilities with those of our friends at RipeConcepts, we will be able to conjure up exciting new possibilities for our clients around the world."
About Nagarro:
Nagarro, a global digital engineering leader, helps clients become innovative, digital-first companies and thus win in their markets. The company is distinguished by its entrepreneurial, agile, and global character, its CARING mindset, and its approach of thinking breakthroughs. Nagarro employs over 12,000 people in 27 countries.
For more information, visit www.nagarro.com
FRA: NA9 (SDAX/TECDAX, ISIN DE000A3H2200, WKN A3H220)
About RipeConcepts:
RipeConcepts is a fast-growing company recognized for world-class services in graphic design, 3D modelling, animation, web development, digital marketing, and more. Their clients range from Fortune 500 companies, award-winning agencies, tech firms, retail shops, to small and medium businesses around the world. The company in based out of Salt Lake City, US and has established state-of-the-art creative hubs in the central business districts of Cebu City, Philippines with over 650 employees.
For more information, visit: www.ripeconcepts.com
For media queries, reach out to press@nagarro.com
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SOURCE Nagarro
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