Technology product innovator Cambridge Consultants has entered a definitive agreement to acquire Synapse, a US West Coast business, to further increase its geographic presence for a growing global client base. The acquisition is expected to be completed in Q3. No figures are being released.
It will allow the combined business to create one of the world’s largest and most powerful product development hothouses with significant presence on both coasts of the US. Cambridge Consultants is already scaling in Boston and has significantly expanded its Science Park facility in the UK.
The deal is part of Cambridge Consultants’ strategy to double its scale and enhance its geographic footprint in the US and Asia.
From its headquarters in Seattle, Synapse specialises in solving complex engineering challenges and developing products that transform its clients’ brands and accelerate advances in technology; a natural fit with Cambridge Consultants’ reputation for truly innovative product and service development, built over the past 60 years.
Synapse brings considerable track record in the development of products aimed directly at the consumer market and has recently delivered projects for clients such as Nike, Microsoft and Samsung.
Over the past four years, Cambridge Consultants has doubled the scale of its global operations and, to keep up with market demand, has set an ambitious target to double again by 2020 with a global workforce of over 1,000 product development and technology specialists.
This acquisition accelerates it towards achieving that ambition, with a presence in Europe, both coasts of the US and in various locations in Asia. Cambridge Consultants already works for many blue-chip companies around the world including Novartis, Philips and Hitachi.
Cambridge Consultants CEO Alan Richardson (pictured) said: “When we first met with colleagues at Synapse we realised that we shared the same vision of the future, and similar skills, expertise and culture, but different geographic footprints that were complementary.
“Synapse has a rich heritage in developing technology-driven consumer products and strengthens our reach both geographically and in this key market segment.
“Our success has been enabled by having highly engaged staff in the same way that Synapse has built its business by offering its staff ‘the best job you ever had’.
“Both organisations have an award-winning reputation as employers, which is illustrative of the similar cultures we have. This deal is great news for both firms, but even better news for clients who now have access to the enhanced capabilities of the joined organisations.”
Ross Collins, founder of Synapse, will become a director of Cambridge Consultants and Redwood Stephens becomes the president of Cambridge Consultants’ US West operations.
Recruitment of talented staff remains a key priority for Cambridge Consultants across all locations.
Cambridge Consultants has a track record of creating high-value organisations built around disruptive technology, developed by its staff. Four of Cambridge’s 15 billion-dollar-capitalisation firms – Cambridge Silicon Radio (CSR), Xaar, Vectura and Domino Printing Sciences – are among those spun off by the company.
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