Mutually Human Broadens Portfolio with SpinDance Acquisition
Deal News | Nov 15, 2024 | EIN
Mutually Human, a software engineering firm based in Grand Rapids, has acquired SpinDance Labs Inc., a company specializing in embedded and Internet of Things (IoT) software. This acquisition, the company's third in two years, is part of an aggressive strategy to bolster its digital engineering capabilities in a rapidly growing industry projected to reach $1.6 trillion by 2026. The deal will see SpinDance operate under the Mutually Human brand, enhancing its offerings in embedded software and IoT solutions. SpinDance, which has been providing digital engineering services for over two decades, shares Mutually Human's vision for innovation, as stated by SpinDance CEO Kim Burmeister. Post-acquisition, all SpinDance employees will remain, with two senior executives joining Mutually Human's leadership team. Although specific terms were not disclosed, the acquisition reflects Mutually Human's ongoing strategy of organic growth fueled by further mergers.
Sectors
- Software Engineering
- Internet of Things (IoT)
- Digital Engineering
Geography
- United States – Mutually Human and SpinDance Labs are both based in Michigan, USA, indicating the geographical focus of the article.
- West Michigan – The article specifically mentions this region as the location for both involved companies, underlining its relevance.
Industry
- Software Engineering – The article discusses companies specialized in software development, particularly in embedded systems and IoT, highlighting growth and acquisitions in this industry.
- Internet of Things (IoT) – It focuses on the acquisition to enhance capabilities in IoT, which involves interconnected devices and systems communicating over the internet.
- Digital Engineering – Covers the growth and strategy in digital engineering, emphasizing AI and machine learning advancements.
Financials
- $810 billion – Estimate of the digital engineering industry value in 2022.
- $1.6 trillion – Projected value of the digital engineering industry by 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mutually Human | Acquirer | Company | A software engineering company based in Grand Rapids, focused on digital solutions and AI innovation. |
| SpinDance Labs Inc. | Target | Company | A Holland-based digital engineering firm specializing in IoT and embedded technology. |
| Century Technology Group | Advisor | Company | Mutually Human's parent company, involved in advising on the acquisition. |
| Jason Kuipers | President | People | President of Mutually Human, instrumental in the acquisition and company’s strategic direction. |
| Kim Burmeister | CEO | People | CEO of SpinDance Labs, who commented on the strategic alignment and benefits post-acquisition. |