Home > News > Latest > Ness Digital Engineering Acquires Mvp Factory - A Leading German Headquartered Product Design, Digital Innovation And Venture Builder

Engineering Tech

Ness Digital Engineering Acquires Mvp Factory - A Leading German Headquartered Product Design, Digital Innovation And Venture Builder

Ness Digital Engineering Acquires Mvp Factory - A Leading German Headquartered Product Design

Ness Digital Engineering is pleased to announce its acquisition of MVP Factory - a leading German headquartered corporate venture builder & product design studio.

"MVP Factory's expertise in helping clients incubate and scale digital ventures and design software products further strengthens our strategy to be a specialist in digital engineering," said Ranjit Tinaikar, Chief Executive Officer, Ness. "We have been deeply impressed by MVP Factory's leadership and team in their distinctiveness and design-based approach to digital innovation. We are truly excited to have them join our team."

Headquartered in Berlin, Germany, MVP Factory provides an end-to-end service for digital venture and product building and has successfully pioneered the venture studio model with global clients such as DB Schenker. It allows clients to ideate, validate, launch and scale digital ventures using lean and agile methodologies. Additionally, MVP Factory's cross-functional team offers an entrepreneurial mindset helping identify new opportunities and business models in rapidly changing industries.

"Joining Ness Digital Engineering, backed by KKR, offers a fascinating opportunity for the global expansion of MVP Factory," said Philipp Petrescu, MVP Factory's Founder & CEO. "Through our combined offering, Ness can further solidify its position as one of the few at-scale pure digital engineering players that seamlessly manages projects from new venture ideation and incubation to technical execution. The synergies will offer immediate value to our clients".

About Ness Digital Engineering

Ness Digital Engineering, which funds managed by global investment firm KKR acquired in 2022 is a full life-cycle digital engineering firm offering digital advisory through scaled engineering services. Combining our core competence in engineering with the latest in digital strategy and technology, we seamlessly manage Digital Transformation journeys from strategy through execution to help businesses thrive in the digital economy. For more information, visit www.ness.com.

Spotlight


Other News
Engineering Tech, Construction

Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

Read More

Engineering Tech, Construction

Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

Read More

More Trending news

Spotlight

Resources