Published in and reprinted courtesy of the Dallas Business Journal
DFW tech company pursues more acquisitions under new owner, adds workers
Jan 14, 2019, 7:43am EST
The Dallas area's projekt202 is stepping up its acquisition strategy as it ramps up its worker count in a big way.
The Addison company has announced two significant deals in the past four months, adding sites in San Francisco and Chicago. The moves come after projekt202 was acquired by Chesterfield, Missouri-based Amdocs (Nasdaq:DOX) in November 2017, according to CEO David Lancashire.
The company grew to roughly 295 employees at the end of last year, an increase of about three-fourths from the time of the deal, he said. The acquisition was for $54 million in cash, Amdocs CFO Tamar Rapaport-Dagim said on an earnings conference call last year.
The deal with Amdocs gave projekt202 access to the larger company’s client list and provided more resources to pursue an acquisition strategy to get offices closer to potential customers, Lancashire said.
“We find that our clients really appreciate working with local teams,” he said. “They have a high preference in general to work with groups of people that they see, that come to their location.”
projekt202 is gaining traction with businesses that want to take a more thoughtful approach to how they build software, combining modern development techniques with more people-focused fields. The company already has some high-profile customer examples with names such as Mercedes-Benz Financial Services, 7-Eleven, Capital One and Samsung Electronics.
“It’s very easy to start designing and developing the wrong thing,” he said. “So, we’ve got to have mature methodologies and approaches.”
The company announced in September it acquired ORA, a user experience and digital product studio, in Chicago, adding close to 50 folks. Lancashire said. Last month, the company said it was bringing on Cibo, a brand experience design firm in San Francisco that added about 35 people, he said. projekt202 already has sites in Austin and Seattle.
projekt202 is eyeing more potential acquisitions, Lancashire said, noting New York City and Atlanta are interesting areas. Both are home to huge corporations and ongoing business activity.
While that would expand company rolls, Lancashire also sees organic growth. He’s looking for growth of about 20 percent at existing offices in the next years. Also, he’s eyeing organic expansion to Asia.
Lancashire said businesses need to think in new ways about how they approach software development. Instead of just filling a technical request quickly through an “agile” system of building applications, they should think more about the "experience" for users, customers and partners, incorporating ideas around anthropology, he said, noting projekt202 was founded in 2003.
“We’ve spent millions and millions of R&D over those years, getting better and better at having teams of experience researchers, experience designers and architects and developers working together,” he said.
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Hear more from projekt202 CEO David Lancashire
Video: Ready to transform your business? Here’s why projekt202 is the #1 choice for the world’s most successful companies
projekt202 is the leader in experience-driven software strategy, design and development. We have a unique and established methodology for understanding people in context — we reveal unmet needs — which drives everything we do. This leads to a crisp, clear understanding of the customer, which shapes the design and development of new solutions and experiences. We have the expertise, teams, skills and scale to deliver sophisticated software solutions that improve any and all touchpoints across the user journey.
projekt202 has spent over 15 years bringing to life and to market compelling experiences through our Experience Strategy & Insight, User Experience, Software Development, Marketing & Analytics, and Program Management practices. Our talented team has delivered emotionally-rich and intuitive solutions for global brands and clients such as 7-Eleven, Capital One, Dell, Mercedes-Benz Financial Services, Neiman Marcus, Samsung Electronics, and The Container Store, among many others.