French digital tech company Valtech has just bought up Sydney-based startup Neon Stingray as it looks to expand its Asia Pacific market share.
The content management startup’s Sydney office will be transformed into Valtech’s regional hub while its Stockholm operations will be consolidated into the French company’s existing offices.
The acquisition amount has not been disclosed. However, Valtech CEO and chairman Sebastian Lombardo said the startup was a good fit for its growth strategy.
“Their startup spirit, outstanding technology skills and reliable delivery perfectly match Valtech’s values,” he said.
Founded almost five years ago by CEO Chris Flintoft and CTO Patrik Molander, Neon Stingray combines engineering, connected devices and marketing tech to create enterprise customer experience offerings.
Since 2010, Neon Stingray has grown its team to over 50 people, and secured clients such as Foxtel, Google, Hoyts, Telstra and Sweden’s TV4. But with the acquisition, it is understood Valtech is looking to significantly increase its headcount over the next 12 months as it scales up to support teams in India and Singapore.
“We are delighted to become part of the Valtech family, and to have access to the resources, support and ideas of over 1600 professionals across the world,” Flintoft said.
“It’s been a hugely exciting four years for Neon Stingray, and this acquisition will give us the fuel we need to break into the next level.”
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