(MENAFN- Mid-East.Info) In a move set to supercharge the Middle East and North Africa's business transformation programs with customer-centric approaches, global digital agency Valtech is acquiring Dubai-based digital-experience design specialist, Revonic from Metdist Limited, a family owned, private investment vehicle.
Following the recent announcement that Valtech secured funding from BC Partners valuing the company at $1.4 billion, today's update is the latest addition in a series of recent acquisitions for the company. The introduction of Revonic to the group is confirmation of Valtech's ambition to deliver transformative work and services to clients across the MENA region.
Valtech's expansion comes at a pivotal time for the region, which is seeing an insatiable appetite to digitalize and automate everything from citizen services to logistics, amid a rapid adoption of ecommerce. In line with this, enterprises are implementing frictionless customer experiences across multiple industries.
Valtech enters the region with a unique value proposition, having pioneered some of the world’s most innovative digital products and solutions for companies like L'Oreal, easyJet, Audi and PepsiCo. As recently showcased by Microsoft CEO, Satya Nadella, who referenced Valtech's work with MAC Cosmetics in his latest industry keynote, Valtech has a strong track record of overcoming complex industry challenges and unlocking customer value in an ever-changing landscape.
Valtech's regional operations launched more than 18 months ago, and the company was soon in talks with Revonic, drawn to the similarities in its culture, focus on talent and dedication to client centricity. Revonic is a regional leader in the design of digital experiences at all points along the digital-transformation journey – from strategy and conceptualization to implementation and evaluation. The company works with its customers including Emirates Airlines and many others to combine function, brand, and business objectives and deliver experiences that make a lasting impact for end users.
‘We are excited to welcome Revonic into the Valtech group and to be expanding our operations across MENA. We are not only welcoming an impressive set of new clients, but also an impressive and talented team that will help to strengthen and develop our international brand and increase our reach', said Olivier Padiou, Group Chief Executive Officer at Valtech.
'Revonic takes an organization's digital offerings further, through data-based actionable insights. By putting enterprises in the driver's seat of their digital vehicle, we have given new confidence to the region's innovators to tweak the customer experience and fine-tune performance. In so doing, we have built strong market trust and logged success stories in the banking, retail, automotive, government, and travel and tourism sectors. We are delighted to be joining Valtech, a move that will allow us to serve customers on the global stage and deliver fresh experiences across the full digital and business-transformation spectrum,' said Adam Cukrowski, Founder & CEO of Revonic.
'The acquisition of Revonic, a market-leading agency, shows Valtech's continued commitment to creating real impact across the MENA region. With a great set of talent, leadership, and clients, powered by the Valtech-connected agency model, we will go from strength to strength. I look forward to working with our amazing clients – who, with us, are striving to deliver connected and convenient experiences to their customers across a range of industries – and to further accelerating the region's drive towards digital adoption,’ said Kareem Monem, Regional Managing Director, Valtech MENA .
“We are delighted to have agreed the sale of Revonic to Valtech. Our strategy is to buy high class businesses and accelerate growth through strategic and operational input.To this end, Revonic has been a successful investment for us. During our ownership, we have repositioned Revonic as a leading experience design agency, entered new markets and grown revenue threefold.” said Mark Thornton, Chief Investment Officer for Metdist Limited.
Awad Capital Ltd., a DFSA regulated firm, acted as exclusive financial advisors to Revonic and its shareholders. On the legal side, TLA acted for Revonic and Hogan Lovells for Valtech.
ABOUT REVONIC :
Revonic is a digital experience design agency that builds digital capability to drive business performance for clients through the delivery of analysis, strategy, user experience, design, data and technology. We specialize in helping its customers in achieving measurable ROI by delivering award winning digital products across ecommerce, web and mobile.
With more than 13 years of presence, Revonic has worked with brands such as Emirates Airlines, Emirates NBD and KAFD, among many others. The company's offerings have supported in major eCommerce uplifts for brands like Level Shoes in the UAE with the launch of their retail eCommerce mobile app, as well as The Red Sea Project and ROSHN to establish their online presence and set the foundation for future growth.
Our user-centered design combined with real focus on achieving business KPIs that drives growth, has resulted in many success stories. Some of them include 300% increase in test drives booked on the Mercedes Benz Website; more than 200,000 inflight entertainment playlists created on Emirates Airline App within its first month of launch; and 20% reduction of calls to bank call-centers due to effectiveness of online channels.
ABOUT VALTECH :
Valtech is a global business transformation agency delivering innovation with a purpose. We enable clients to anticipate tomorrow's trends and connect more directly with consumers across their digital and physical touch points while optimizing time-to-market and ROI.
We are a network of more than 4000 innovators, design thinkers, marketers, creatives and developers spanning 5 continents with offices in 18 countries Argentina, Brazil, Canada, China, Denmark, France, Germany, India, Mexico, Netherlands, North Macedonia, Singapore, Sweden, Switzerland, UK, Ukraine, United Arab Emirates, United States). While our expertise is experience design, technology and marketing, our passion is in addressing transformational business challenges for our clients. Challenges where we re-imagine the customer journey and build new connected experiences. Challenges where we make data work in this new era and help our clients transform the way they operate.
Our services including strategy consulting, service design, technology services, and optimization of business-critical digital platforms for multichannel commerce and marketing.
ABOUT METDIST :
Metdist Limited is a family owned, private investment vehicle with global investments including, but not limited to, financial services, fintech, copper fabrication, commodity trading, hospitality, retail and digital experience design. The Metdist Group, with a turnover of over $1 billion and more than five thousand employees, is positioned to capture growth in the core emerging markets in the Middle East, India and South East Asia.
This acquisition is still pending approval by regulatory authorities.
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