Improving, a tech consulting and training firm based in Plano with offices across North America, today announced it has acquired nearshore software development company iTexico.
The merger is expected to increase Improving’s workforce by more than 300 professionals and deliver a combined annualized revenue in excess of $115 million. iTexico, which is headquartered in Austin, has nearshore offices in Mexico and sales offices in Dallas, Chicago, and California.
The move continues Improving’s ongoing “Enterprise Model” strategy of merging similar service companies that share “a genuine commitment to excellence, trust, and culture,” according to a statement.
The iTexico acquisition “is particularly strategic,” the company said. The deal will expand Improving into the nearshore market with teams in Mexico and a local presence in Austin. iTexico’s leadership team, which will continue to operate and grow the business, will help boost Improving’s innovation and industry authority across North America.
Joining forces is mutually beneficial, Curtis Hite, CEO and Chairman of Improving, said. “We’re now able to serve both new and existing customers in ways that neither company alone could, prior to our merger. It will immediately provide noticeable value to our existing partners by giving them access to new and critical services.”
But, equally important, he says, the companies’ values and cultures seem unusually aligned. Improving has a focus on Conscious Capitalism, and CEO Hite points to iTexico’s “noticeable commitment to an inclusive culture with an equal expectation of delivery excellence.”
Anurag Kumar, CEO of iTexico also notes the synergy: “Improving shares our values of trusted advisor-ship and a commitment to client success. We have remarkable synergies as a culture-rich organization that rewards innovation and involvement.”
He adds: “We’re thrilled to be a part of Improving’s growth strategy,”
According to Improving, iTexico has been “growing very rapidly” and has been on the Inc. 5000 list five times in the last six years. The company’s software development and digital services will extend the breadth and depth of offerings across Improving’s markets.
Improving acquired Frisco’s Code Authority in October, in a like move to merge technology service companies.
“The mutual benefits of joining forces with businesses that have similar company values allows us to advance our ambition of improving the perception of the IT professional,” Hite said at the time.
Improving’s portfolio of acquisitions is focused on Agile, Microsoft (.NET), and Java technologies, the company said.
Dallas-based Trinity Hunt Partners, a growth-oriented middle-market private equity firm with majority interest in Improving, announced its partnership with the company in 2018. That deal was expected to accelerate Improving’s growth through what it calls “organic initiatives” and acquisitions. Improving was founded by CEO Hite in 2007, when Hite and other partners established a company called Blue Ocean Group. It then acquired a small training company called Improving Enterprises, and quickly adopted the Improving name.
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