Grid Dynamics starts strong; First acquisition within thirty days of India Launch
Hyderabad, 30 December, 2022: Grid Dynamics incubated its India Operations on 30th November 2022 by Mr. KT Rama Rao, IT Minister and Mr. Jayesh Ranjan, IAS, Principal Secretary, Telangana.
With the clear strategy to grow in India starting with Hyderabad at its core for bringing the best breed of engineers and technologists to solve the most complex business problems, Grid Dynamics acquired Mutual Mobile to deepen expertise in Experience Design, Mixed Reality, and Cloud Edge for Global Brands in a span of 30 days from its incubation in this city.
Founded in 2009, Mutual Mobile, based in the USA and India in Hyderabad, offers end-to-end design and development of next-generation applications, combining mobile, augmented/virtual/mixed reality, and cloud edge / IoT practices.
With around 200 employees across India and North America, Mutual Mobile will contribute significantly to supporting Grid Dynamics’ objective of diversifying its global client base and enabling quality engineering talent in select verticals to join the company.
The CEO of Grid Dynamics, Leonard Livschitz said, “We are bullish on India and more acquisitions are in the pipeline. These acquisitions are motivated by vertical play and strong digital engineering talent around AI, Data, Cloud and UX.
While thanking the Telangana government and honourable minister KT Rama Rao for their continued support, Mr. Livschitz said that, India is a strategic geo location in Grid Dynamics commitment to global growth.
Grid Dynamics Private Limited located at 5th Floor Tower-1 Salarpuria Knowledge Park, Madhapur, Hyderabad and Mutual Mobile located at N-Heights, 4th Floor, Awfis, Siddiq Nagar, HITEC City, Hyderabad.
Grid Dynamics listed in NASDAQ (USA) and they have intimated NASDAQ about this transaction and same is available on NASDAQ website:
https://www.nasdaq.com/articles/grid-dynamics-gdyn-acquires-mutual-mobile-to-broaden-portfolio
To know more about Grid Dynamics, please visit www.griddynamics.com.
About Grid Dynamics:
Grid Dynamics (NASDAQ: GDYN), a global digital engineering company, co-innovates with the most respected brands in the world to solve complex problems, optimize business operations and better serve customers. Driven by business impact and agility, we create innovative, end-to-end solutions in digital commerce, AI, data and cloud to help clients grow.