NESS DIGITAL ENGINEERING ACQUIRES MVP FACTORY - A LEADING GERMAN HEADQUARTERED PRODUCT DESIGN, DIGITAL INNOVATION AND VENTURE BUILDER

ACCELERATES LEADERSHIP IN END-END DIGITAL TRANSFORMATION

TEANECK, N.J., June 29, 2023 /CNW/ -- 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".

The transaction is expected to close at the end of June 2023. Financial details were not disclosed.

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.

For more information on this release contact

Vivek Kangath
Global Head of PR – Media Relations
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SOURCE Ness Digital Engineering