3Pillar acquires Ariz.-based software company
Fairfax-based company buys Tiempo Development
Fairfax-based product lifecycle management company 3Pillar Global Inc. announced Tuesday it has acquired Tempe, Arizona-based software development company Tiempo Development.
Financial terms of the transaction were not disclosed.
Tiempo Development, which employs more than 400 people, also has three digital delivery centers in Mexico, which will expand 3Pillar’s footprint and offerings of data science, analytics, internet of things and cloud services. Founded in 2006, 3Pillar creates software for media and publishing companies, information services companies and retail companies. 3Pillar will now have more than 1,600 employees across five countries.
“Adding the Tiempo team is an important step in expanding our addressable market throughout the United States,” 3Pillar CEO David DeWolf said in a statement. “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.”
In August, 3Pillar Global Inc. announced it had acquired Costa Rica-based software development company Isthmus Software, which added two offices in Costa Rica and Isthmus’ global brand clients Walmart and VMWare to the company’s roster.
GLC Advisors LLC served as financial adviser to Tiempo during the transaction. 3Pillar named David Sawatzky as chief delivery officer. He will lead the integration of Tiempo Development into 3Pillar’s 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,” Tiempo Development CEO and founder Cliff Schertz said in a statement. “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.”
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