3Pillar Global Acquires Arizona-based Software Firm Tiempo Development
Leading software development firm expands central and western region footprint with growth-driving acquisition
FAIRFAX, Va., Dec. 8, 2020 /PRNewswire/ -- 3Pillar Global, a leading developer of innovative digital products, today announced it's expanding its business through the acquisition of Arizona-based software development firm, Tiempo Development.
With three digital delivery centers across Mexico, the acquisition of Tiempo augments 3Pillar's global footprint and enables enhanced data science, analytics, IoT, and cloud services. Tiempo's more than 400 software engineers, product developers and innovation strategists bring a proven track record of delivering high performance digital solutions and agile outcomes for their clients. 3Pillar's newly expanded global workforce will now exceed 1,600 team members across 5 countries.
"Adding the Tiempo team is an important step in expanding our addressable market throughout the United States," said David DeWolf, CEO of 3Pillar Global. "The combination of our team's strong cultural alignment, shared Product Mindset, digital product development approach, and geographic footprint will move us towards enabling a globally distributed, continuous delivery model to better meet our clients needs for continuous product innovation."
This latest acquisition by 3Pillar is part of their rapid growth strategy, kicked off in early 2020 by an investment partnership with New York-based private equity investor CIP Capital and followed by the acquisition of Costa-Rican based Isthmus Software. GLC Advisors, LLC acted as financial advisor to Tiempo on the transaction. To support this era of expansion and deepened client service capabilities, 3Pillar welcomed David Sawatzky to the team as Chief Delivery Officer, who will lead Tiempo's integration into the global 3Pillar brand.
"At Tiempo, we've prided ourselves on building high performing development teams in a nearshore business model that consistently delivers outstanding outcomes for our clients," said Cliff Schertz, CEO and founder, Tiempo Development. "By joining forces with 3Pillar, our combined team will bring our clients a greater talent pool with a broader set of capabilities in a globally distributed delivery model."
"This acquisition strategically expands 3Pillar's delivery capabilities and enables an exciting move toward working with clients in a 24 hour cycle with fully globally distributed teams," said Mike Grady, Principal at CIP Capital. "The team will continue to invest aggressively to serve its client base and continue to position 3Pillar as a global leader in the software engineering industry."
For more information on 3Pillar Global and their work building software products for digitally-transforming businesses, visit www.3pillarglobal.com.
About 3Pillar Global
3Pillar Global builds breakthrough software products that power digital businesses. 3Pillar is an innovative product development partner whose solutions drive rapid revenue, market share, and customer growth for industry leaders like CARFAX, Fortune, and PBS. Leveraging a lean and agile approach, 3Pillar delivers value-generating, digital solutions with specialized product strategy and management, user experience design, as well as software and data engineering expertise across mobile, cloud, and disruptive technologies. Visit www.3pillarglobal.com for more information and career opportunities. To learn more about the Product Mindset, visit www.productmindset.com and pick up a copy of "The Product Mindset: Succeed in the Digital Economy by Changing the Way Your Organization Thinks," by 3Pillar CEO David DeWolf and VP of UX/UI for CoStar Group Jessica Hall.
About Tiempo
Tiempo is widely recognized as one of the leading software engineering companies in the US. Using a combination of nearshore engineering resources, high-performance teams and relentless focus on client outcomes, Tiempo designs, builds and deploys software that makes lives better.
Tiempo is headquartered in Tempe, Arizona, with four world class software development facilities in Mexico. Tiempo has been recognized annually by Inc. Magazine as one of the Fastest-Growing Private Companies in America. https://www.tiempodev.com/
About CIP Capital:
CIP Capital is a New York-based private equity firm focused on investing in growth-oriented, middle-market companies across the Business Information and Technology-Enabled Services sectors in North America. The fund seeks to invest in proven, profitable businesses that provide their customer bases with critical information, data-driven insights, and value-added outsourced services. CIP targets investments in sectors including tech-enabled business services, data-driven marketing services, human capital management and knowledge services. For more information please visit: http://www.cip-capital.com.
SOURCE 3Pillar Global
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