Ciklum, a global digital engineering company, today announced the acquisition of CN Group in order to accelerate the company’s growth plans in the German-speaking (“DACH”) and Scandinavian markets.
The combination of CN Group and Ciklum will build on each company’s long history of delivering high-impact products and platforms to clients across Europe and North America, while opening new fields of opportunity for both. Driven by a high performance employee culture and environment of technical learning, the united delivery footprint across the Czech Republic, Slovakia, Ukraine, Poland and Romania will represent one of the largest digital transformation providers in the CEE region with global reach.
As a leading global product engineering and digital services company, Ciklum works with enterprise customers across 30+ countries to help clients design and optimize their businesses for innovation, leveraging emerging technologies. In 2020, the company received a strategic investment from Recognize, a global technology investment platform, to further expand its offerings.
CN Group is a digital engineering firm headquartered in Prague, with nearshore delivery locations in central Europe. The company’s 360 digital technology specialists will become a powerful addition to the Ciklum team of more than 3,500 engineers, designers, product managers and data scientists across the globe. CN Group has been delivering digital and mechanical engineering for over 27 years. The company serves over 60 international customers, including Procter & Gamble, Strabag, TF Bank, Bunte.de and FlatexDEGIRO, across more than 7 markets.
“Our companies share a strong culture of transparency, open communication, and excellence,” said Kulraj Smagh, CEO at Ciklum. “Like Ciklum, CN is dedicated to empowering both our people and clients to exceed their potential and pursue extraordinary technology solutions in the fast-changing digital economy. We welcome CN Group to the Ciklum team and look forward to working with CN Group clients to deliver an expanded set of solutions.”
“CN Group underwent an intense journey of development over the last 2.5 years, transforming from a founder-based business into a modern and well-diversified IT organization. This would not have been possible without the support of a strong capital partner we found in Genesis Capital,” said Michal Širica, CEO, CN Group. “Becoming part of Ciklum is a natural step in our development and I am looking forward to an even brighter future ahead.”
“This acquisition represents a major milestone for Ciklum, as it brings together two best-in-class teams to create one of the largest digital engineering firms in the region” said Frank D’Souza, co-founder of Recognize. “We are incredibly excited for what the future holds, not only for Ciklum, but for the broader technology services industry in Europe and beyond.”