“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.