3Pillar buys Costa Rica-based software company
Fairfax-based product lifecycle management firm acquires Isthmus Software
Fairfax-based product lifecycle management company 3Pillar Global Inc. announced Thursday it has acquired Costa Rica-based software development company Isthmus Software.
A transaction amount was not disclosed.
“The acquisition of Isthmus brings expanded engineering excellence and development expertise to the 3Pillar team, but more, their leadership and team members share our strong core set of values and our focus on innovative digital transformation,” 3Pillar CEO David DeWolf said in a statement. “With this acquisition, we now have more than 200 outstanding new team members and have expanded our ability to drive successful product outcomes for our clients.”
The acquisition is part of 3Pillar’s new growth strategy, which began earlier this year through an investment from New York-based private equity investor CIP Capital, according to the company. The amount and terms of CIP Capital’s investment were not disclosed.
“This strategic acquisition extends 3Pillar’s digital development capabilities and expands its global delivery capabilities,” CIP Capital Managing Partner Justin Lipton said in a statement. “The team will continue to invest aggressively to serve its client base and continue to position 3Pillar as a world leader in the software services industry.”
This will add two offices in Costa Rica and will add Isthmus’ global brand clients Walmart and VMWare to the company’s roster. The company following the completion of the transaction will operate under the 3Pillar name.
“We look forward to bringing our breadth and diversity of experience to 3Pillar’s dynamic team to serve the needs of current and new clients,” Isthmus CEO Marie-France Beaulieu said in a statement. “This is an exciting new chapter for our talented team, and we are eager to begin the process of transitioning into the 3Pillar global family.”
3Pillar was founded in 2006 and creates software for media and publishing companies, information services companies and retail companies.