International digital transformation services firm Ciklum Group has seen New York technology private equity firm Recognize make a “significant” strategic investment in the company.
Headquartered in the UK, Ciklum has a strong presence across the hi-tech, fintech and consumer sectors, with clients across over 30 countries, and with 3,500-plus engineers operating in digital custom software development centres across the Ukraine, Belarus, Spain, Poland and Pakistan.
Recognize was established by Frank D’ Souza, co-founder and former CEO of Cognizant; Charles Phillips, former CEO of Infor and former president of Oracle; and financier David Wasserman, a long-time partner at Clayton, Dubilier & Rice.
Recognize says it will work in partnership with the existing Ciklum shareholders and management team as it seeks to grow the firm. Frank D’Souza will join the company’s board of directors along with Recognize partners Rajeev Mehta, former president of Cognizant and Josh Miller, a founder of venture studio Atomic.
Kulraj Smagh, chief executive officer at Ciklum, said: “Having such industry leading and experienced board members will take us to the next level and we welcome them as our new investors and partners in driving the business to even greater heights.” D’Souza added: “Digital transformation is top of the agenda for businesses across the globe and Ciklum is perfectly positioned to meet the demand for cutting-edge technological solutions, with the exceptional quality of engineering talent it brings to clients.”
