Frequently asked questions (FAQs) on the acquisition:
What is happening?
- Thoughtworks is acquiring Fourkind, a privately-held consulting services firm that combines machine learning and data science, strategy, design and engineering.
- Fourkind’s 40 team members based in Finland and the Netherlands bring with them a wealth of experience and will help us accelerate growth in our four key strategic focus areas of data
- The close of the acquisition is due in the first quarter of 2021
- The acquisition will help further strengthen Thoughtworks’ European footprint and open up Finland, the Nordics and Benelux.
- The Fourkind team will continue to support their existing clients
Why are we doing this?
- As we mature as a company, we need to look at how we grow the business and expand our capability and impact globally.
- There are a number of options being explored - inorganic growth via acquisitions is one of the options that we have been working on.
- This acquisition will help us accelerate and grow our data, AI and machine learning capabilities.
What is the benefit to Thoughtworks?
- The acquisition will help strengthen Thoughtworks’ data, machine learning and AI capabilities
- The cultural fit was particularly important to us and one of the key reasons we opted to join forces with Fourkind
- The acquisition will help strengthen Thoughtworks’ offer in data, AI and machine learning plus give us an increased footprint in Finland, the Netherlands and Nordics.
- We believe that we can learn from them in this space and will be looking to adopt this learning across our data service line.
- One of things that impressed us most about the Fourkind team is their ability to apply machine learning to solve complex business problems and deliver results quickly.
- In particular, the way Fourkind blends machine learning and data science, strategy, design and engineering to help clients lower the perceived risk of adopting new approaches to artificial intelligence.
- Their expertise, commitment to value-driven results, ambition, and existing client relationships will help Thoughtworks accelerate and enhance our existing machine learning and data science capabilities.
- We have a strong track record in diversity and will look to help Fourkind become a more diverse and successful organization.
Is Thoughtworks planning to make anyone in Fourkind redundant?
- We have no plans to make anyone redundant. In fact the reverse is true and we’re hoping to grow and scale up the team in the next 18 to 24 months.
How many people will be joining the company?
- A 40-strong team of data scientists, machine learning experts, designers, engineers and strategists will be joining Thoughtworks.