Key Takeaways:

• The acquisition will enhance Grid Dynamics’ digital transformation capabilities with Nextsphere Technologies’ specialization in full-service customer applications development.
• NextSphere Technologies, with years of experience with customers in Healthcare, FinTech, and CPG/Manufacturing, will enhance Grid Dynamics’ expertise across industry verticals.
• The acquisition adds over 200 employees to the Grid Dynamics team in the US and India-adding US engineering delivery centers in Tampa, FL and Phoenix, AZ, and expanded operations in India with engineering centers in Hyderabad and Chennai.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) (Grid Dynamics), a leader in enterprise-level digital transformation services and solutions, announced today that it had acquired NextSphere Technologies-a full-service custom application development firm. With over 200 employees across US and India, Nextsphere Technologies will support Grid Dynamics’ objectives of enhancing its technical offerings, expanding in global footprint, and increasing its client base.

Founded in 2006, NextSphere Technologies is headquartered in Tampa, FL, and its clients are US-based. They also have an engineering presence in Phoenix, AZ, and operate two large engineering centers in the India tech hubs of Hyderabad and Chennai. The company specializes in modern application development, systems monetization, product development, cloud & infrastructure services, and quality assurance. Over the years, the company has worked with several brands across numerous industry verticals with expertise in Healthcare, Fintech and CPG/Manufacturing industries.

“The acquisition of NextSphere Technologies enhances our technical capabilities and expands our global footprint. With a proven track record of serving customers across the Healthcare, Fintech, and CPG/Manufacturing industries, Nextsphere Technologies’ expertise will complement Grid Dynamics’ offerings to existing and new customers. Additionally, the industries where Nextsphere Technologies has focused are key to Grid Dynamics’ Gigacube strategy of diversifying and growing to a billion-dollar revenue company. With its headquarters in Tampa and delivery operations in India with Hyderabad and Chennai as the key centers, the acquisition strengthens our global delivery position in serving our clients,” said Leonard Livschitz, CEO of Grid Dynamics.

“Joining forces with Grid Dynamics is a win-win for everyone. Our clients and our employees benefit from their comprehensive service offering, their ability to drive business value, their culture of engineering excellence, and most importantly, their unwavering commitment to doing whatever it takes to help their clients and their employees thrive. From the first time we met with Grid Dynamics, it was obvious our management and technical teams were from the same cloth,” said Dr. Raju Dantuluri, Co-founder of NextSphere Technologies.

About NextSphere Technologies

NextSphere is a software services firm that develops, manages, hosts and maintains applications for companies in various industries. Their industry-certified solutions offer clients market-leading competitive advantages gained through expedited time to market and the cost savings afforded by a global delivery model that leverages state-of-the-art development facilities in multiple time zones.
About Grid Dynamics

Grid Dynamics (Nasdaq: GDYN) is a digital-native technology services provider that accelerates growth and bolsters competitive advantage for Fortune 1000 companies. Grid Dynamics provides digital transformation consulting and implementation services in omnichannel customer experience, big data, analytics, search, artificial intelligence, cloud & DevOps, and application modernization. Grid Dynamics achieves high speed-to-market, quality, and efficiency by using technology accelerators, an agile delivery culture, and its pool of global engineering talent. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the US, Mexico, UK, Europe, and India

–NewsVoir