Frequently asked questions (FAQs) on the acqusition
What is happening?
This marks Thoughtworks’ third acquisition.
Connected’s team of 165 team members is joining Thoughtworks
The acquisition will see the strengthening of Thoughtworks in Canada - the Connected team will be at its core.
The acquisition will help further strengthen Thoughtworks’ capabilities in CX and product strategy and development.
The Connected team will initially support clients in both the US and Canada.
The Connected team brings with them a wealth of experience and will help us accelerate growth in product design and development 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 Connected?
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.
Connected has quickly emerged as a leader in 0-1 new product development, trusted by the world's largest consumer technology companies. This acquisition will support us to increase our CX and product design and development capacity and capability in North America. The Connected team will also strengthen our footprint in Canada.
What will happen with Connected’ current projects?
All existing projects will continue to be led and delivered by the Connected team. There will be no discontinuity in the current business.
What’s the benefit for clients?
This acquisition will improve our ability to support and service clients especially in North America.
The Connected team brings with them a wealth of experience especially in 0-1 new product development that complements our own and will ensure we can address a wider range of client challenges.
Will Connected's founder be staying on?
Connected's entire team will join Thoughtworks, including Mike Stern, the CEO & Co-Founder and Tammy Chiasson, its President. Both will play key roles with Ms. Chiasson also being named Managing Director will take on the role as MD of Canada and report to Chris Murphy, CEO of Thoughtworks North America.
Will they continue as Connected or will they change their name to Thoughtworks?
The brand strategy is a critical part of our integration. As such, our teams are working together on our joint value proposition, messaging and brand identity.
More information will be available in the coming weeks.
What does this mean for Thoughtworkers in Canada?
Although we opened an office in Canada in 2001, to date we have only had a relatively small (but strong!) contingent of Thoughtworkers present in the country. The 165 strong Connected team will strengthen our presence in Canada and is a big step toward further growing this market.
Over time, the Thoughtworkers in Canada and Connected team members will integrate more closely into a single team.
With Connected, will the vision, strategy and goals of Thoughtworks Canada change and/or evolve?
The time is right for us to properly invest in scaling our presence in Canada.
For many years, our focus has mostly been upon serving clients in Canada. This will continue to be a focus.
However, we’ll also be scaling our ability to - and focus upon - serving US clients with great Canadian talent. Much like many other Thoughtworks regions, Thoughtworks Canada will have a dual focus on the local market and distributed market.
For this reason, by 2023, we’ll be establishing Canada as a dedicated market within the Thoughtworks North American business. We expect these changes to be gradual and co-created and with input from both Thoughtworkers and Connectors.
Will Thoughtworks consolidate offices in Toronto?
Yes, over time we expect to consolidate offices. As we invest to grow Canada, we expect to quickly outgrow our space on John Street.
Connected’s current office is a seven minute walk from the Thoughtworks office.
How much have we paid for them?
The financial terms of the deal are not being publicly disclosed.
Who will Connected report to?
Tammy Chiasson, president of Connected, will become the MD for Thoughtworks Canada and will report to Chris Murphy, CEO of Thoughtworks North America. Together they will work to ensure a smooth integration for the people, clients and business operations.
Is Thoughtworks planning to make anyone in Connected redundant?
Absolutely not, in fact we’re planning to grow and scale up the team in Canada.
How many employees will now comprise Thoughtworks Canada?
With the new acquisition we will now have around 200 Thoughtworkers in Canada.