Frequently asked questions (FAQs) on the acqusition
What is happening?
- This marks Thoughtworks’ fourth acquisition.
- Handmade’s team of about 50 members is joining Thoughtworks
The close of the acquisition, anticipated in the third quarter of 2022, will see the strengthening of Thoughtworks’ CX, product and design service line in Brazil.
The acquisition will help further strengthen Thoughtworks’ capabilities in CX and product design.
The Handmade team will primarily support our Brazilian clients.
The Handmade team brings with them a wealth of experience and will help us accelerate growth in design practice as well as customer experience which are all key strategic focus areas for us.
- This is an exciting new chapter in the Thoughtworks story and we will do everything we can to ensure a smooth and seamless merging of the two organizations.
Why did Thoughtworks decide to acquire Handmade?
As we mature as a company, we need to look at how we grow the business and expand our impact globally. Our focus to date has been mainly on organic growth but we believe we need to have a blend of both organic and inorganic in order to achieve our ambitious plans.
- This acquisition will support us to increase our CX and product design capacity and capability in Brazil.
What will happen with Handmade’ current projects?
- All existing projects will continue to be led and delivered by the Handmade team. There will be no discontinuity in the current business.
What’s the benefit for clients?
This acquisition will significantly improve our ability to support and service clients especially in Brazil.
- As a consultancy that integrates strategy, design and engineering, our combined expertise will allow us to strengthen our capability and credibility to deliver end-to-end solutions from design to delivery, helping our clients rapidly drive growth through extraordinary customer experiences.
Will Handmade’s founders be staying on?
- Yes the founders have agreed to stay on with Thoughtworks.
Will they continue as Handmade or will they change their name to Thoughtworks?
After a short transition period the Handmade team will become Thoughtworks Brazil and part of our CXPD service line team.
We will be working together on the integration and are keen to learn from them just as much as they will be learning from us.
How much have we paid for them?
The financial terms of the deal are not being publicly disclosed.
Is Thoughtworks planning to make anyone in Handmade redundant?
Absolutely not, in fact we’re planning to grow and scale up the CX, product and design team in Brazil.