Luxoft Holding, Inc (NYSE:LXFT), a global IT service provider, has announced the acquisition of Smashing Ideas, a Seattle-based design and innovation agency, the company said.
Smashing Ideas consults across the product design and development lifecycle, with a focus on accelerating innovation at every stage for their Global 500 clients. Their approach and depth of experience in strategy, design, development, and program management fosters collaboration and enables them to bring new products, services, and businesses to market, faster.
Luxoft purchased Smashing Ideas from Penguin Random House, the world´s largest trade-book publisher, which has owned the company since 2011.
GP Bullhound acted as the exclusive financial advisor to Penguin Random House and Smashing Ideas on this transaction.
Luxoft is a global IT service provider of innovative technology solutions that delivers measurable business outcomes to multinational companies. Its offerings encompass strategic consulting, custom software development services, and digital solution engineering.
Founded in 1996 and headquartered in Seattle, WA, Smashing Ideas is a design and innovation agency with deep expertise in creating highly engaging digital experiences.