Wavestone Boosts Portfolio with Wivoo Acquisition

Wavestone, a leading international consulting firm headquartered in Paris, has expanded its digital capabilities with the acquisition of Wivoo, a French digital product development firm. Established in 2019, Wivoo has rapidly become a significant player in the digital space, having completed over 600 projects and employing 100 specialists focused on enhancing digital products across various sectors including retail and financial services. The acquisition deal valued at 16 million euros consists of 11.5 million euros paid upfront and 4.5 million euros dependent on performance in forthcoming years. This strategic acquisition aligns with Wavestone's growth ambition to evolve into a 1 billion euro consultancy firm by acquiring complementary companies such as Wivoo. Wavestone's Development Director, Reza Maghsoudnia, highlighted the synergy and potential to elevate digital product management offerings, while Wivoo’s CEO Thibaut Desreumaux underscored the benefits of accessing broader client capabilities. Notably, Wivoo will maintain its brand identity, emphasizing its new association with Wavestone.