Grid Dynamics Acquires Mutual Mobile to Deepen Expertise in Experience Design, Mixed Reality, and Cloud Edge for Global Brands - Yahoo Finance

Key Takeaways:

• The acquisition volition heighten Grid Dynamics' integer translation portfolio to conscionable the rapidly increasing request to plan and make next-generation integer experiences for planetary brands.

• Mutual Mobile, with its respective decades of acquisition bringing method innovation to Fortune 500 clients, and entree to a highly-skilled Indian endowment pool, brings integer experiences to beingness for planetary brands done an integrated attack to plan and exertion with heavy knowing of mobile, Internet-of-Things and virtual, augmented, and mixed world environments.

• Mutual Mobile's apical manufacture verticals are Technology, Healthcare, Automotive, and Financials Services.

• The acquisition supports Grid Dynamic's objectives to diversify its planetary endowment unit and fortify its rod presumption done cautiously selected acquisitions.

SAN RAMON, CA / ACCESSWIRE / December 27, 2022 / Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) (Grid Dynamics), a person successful enterprise-level digital transformation services and solutions, contiguous announced the acquisition of Mutual Mobile, an innovation person that brings integer experiences to beingness done an integrated attack to plan and technology. With astir 200 employees crossed India and North America, Mutual Mobile volition lend importantly to supporting Grid Dynamics' nonsubjective of diversifying its planetary lawsuit basal and enabling prime engineering endowment to articulation the company.

Founded successful 2009, Mutual Mobile, based successful the USA and India, offers end-to-end plan and improvement of next-generation applications, combining mobile, augmented/virtual/mixed reality, and unreality borderline / IoT practices. The institution is besides good known for providing services related to autochthonal unreality development, merchandise design, and customized bundle engineering for exertion startups arsenic good arsenic Fortune 500 enterprises. The institution has developed wide-ranging, award-winning method solutions for salient planetary brands crossed galore manufacture verticals, with Technology, Healthcare, Automotive, and Financial Services representing the apical verticals by revenue.

"The acquisition of Mutual Mobile accelerates our strategical enlargement into the India engineering marketplace and further solidifies Grid Dynamics' committedness to planetary growth. Their exertion enactment and heavy engineering skills, peculiarly successful the country of mobile technologies and UX expertise, volition heighten our quality to mobilize highly-skilled teams to enactment our clients successful gathering innovative, end-to-end integer solutions. With the acquisition of Mutual Mobile, we person continued to fortify our presumption arsenic a planetary exertion company", said Leonard Livschitz, CEO of Grid Dynamics.

"Teaming up with Grid Dynamics empowers Mutual Mobile to connection our clients caller solutions acold beyond the realm of emerging technologies. The immense work offerings of Grid Dynamics means our customers present person entree to a powerhouse susceptible of delivering unrivaled concern results. Most importantly, we are joining an enactment that shares our doctrine that unthinkable employees are paramount to unleashing unthinkable innovation." said John Arrow, CEO of Mutual Mobile.

About Mutual Mobile

Headquartered successful Austin, TX, Mutual Mobile brings integer experiences to beingness for planetary brands done an integrated attack to plan and exertion and specializes successful utilizing emerging exertion to plan and make caller applications. Mutual Mobile halfway offering spans borderline and mobile computing, augmented virtual, and mixed reality, Internet-of-Things (IoT), connected devices, and conversational interfaces.

About Grid Dynamics

Grid Dynamics (Nasdaq: GDYN) is simply a digital-native exertion services supplier that accelerates maturation and bolsters competitory vantage for Fortune 1000 companies. Grid Dynamics provides integer translation consulting and implementation services successful omnichannel lawsuit experience, big information analytics, search,artificial intelligence, cloud & devops, and exertion modernization. Grid Dynamics achieves precocious speed-to-market, quality, and ratio by utilizing exertion accelerators, an agile transportation culture, and its excavation of planetary engineering talent. Founded successful 2006, Grid Dynamics is headquartered successful Silicon Valley with offices crossed the US, Mexico, UK, Netherlands, Mexico, Switzerland, India, and Central and Eastern Europe.

To larn much astir Grid Dynamics, delight sojourn www.griddynamics.com. Follow america connected Facebook, Twitter, and LinkedIn.

Forward-Looking Statements

This connection contains "forward-looking statements" wrong the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not humanities facts, and impact risks and uncertainties that could origin existent results of Grid Dynamics to disagree materially from those expected and projected. These forward-looking statements tin beryllium identified by the usage of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," oregon "should," or, successful each case, their antagonistic oregon different variations oregon comparable terminology. These forward-looking statements include, without limitation, quotations of absorption and statements astir the imaginable benefits from the acquisition of Mutual Mobile.

These forward-looking statements impact important risks and uncertainties that could origin the existent results to disagree materially from the expected results. Most of these factors are extracurricular Grid Dynamics' power and are hard to predict. Factors that whitethorn origin specified differences include, but are not constricted to, our quality to successfully integrate Mutual Mobile's business, technology, unit and operations; costs related to the acquisition; whether our marketplace grows arsenic anticipated; the competitory situation and competitory responses to the acquisition; wide marketplace and concern conditions; immoderate unanticipated interaction of accounting for the acquisition; and different risks and uncertainties indicated successful Grid Dynamics' filings with the SEC.

Grid Dynamics cautions that the foregoing database of factors is not exclusive. Grid Dynamics cautions readers not to spot undue reliance upon immoderate forward-looking statements, which talk lone arsenic of the day made. Grid Dynamics does not undertake oregon judge immoderate work oregon undertaking to merchandise publically immoderate updates oregon revisions to immoderate forward-looking statements to bespeak immoderate alteration successful its expectations oregon immoderate alteration successful events, conditions oregon circumstances connected which immoderate specified connection is based. Further accusation astir factors that could materially impact Grid Dynamics, including its results of operations and fiscal condition, is acceptable distant nether the "Risk Factors" conception of the Company's quarterly study connected Form 10-Q filed November 3, 2022 and successful different periodic filings Grid Dynamics makes with the SEC.

Media Contact:

Beth Trier
Trier and Company for Grid Dynamics
415.285-6147 | beth@triercompany.com

SOURCE: Grid Dynamics - Mutual Mobile