Sparq Acquires Kingsmen Software, Leading U.S.-Based AI and Financial Digital Engineering Firm
July 09 2024 - 9:00AM
Business Wire
Acquisition expands Sparq’s AI capabilities and
position in the financial sector
Sparq, a leading U.S.-based provider of outsourced digital
engineering for technology driven and Fortune 1000 companies, has
acquired Kingsmen Software, a U.S.-based engineering firm offering
generative AI strategy, consulting and full stack development in
the financial sector.
Kingsmen, based in Charlotte, N.C., built its foundation around
enterprise banking, payments, and capital markets, expanding into
mid-market and late stage FinTech. The company brings expertise in
custom software delivery, product design and technology advisory.
Kingsmen has stayed on the forefront of technology by developing
proficiency in Generative AI strategy, consulting, and execution.
As part of Sparq, Kingsmen’s clients will have access to more
offerings and a greater ability to scale globally to meet their
needs.
“Understanding and developing expertise in emerging technologies
is vital to create successful strategies for our clients,” said
Monty Hamilton, CEO at Sparq. “Kingsmen brings a high level of
expertise in GenAI to Sparq, giving our clients more options and
insights so they can be on the forefront of the rapidly evolving
technology landscape. Additionally, their focus on financial
sectors and headquarters in Charlotte align with our core
foundation and provides a firm base in one of the U.S.’s largest
banking hubs. We are excited to welcome Kingsmen to the Sparq
family.”
Founded in 2013, Kingsmen quickly grew into one of Charlotte’s
preeminent technology services companies, delivering software
consulting and development services to some of the country’s
largest financial institutions. The company has won numerous
workplace awards and is recognized as one of the foremost leaders
in FinTech and banking.
“Since we started Kingsmen, we have grown into a trusted
technology partner for some of the U.S.’s largest financial
institutions,” said Bill Clerici, CEO & Managing Partner at
Kingsmen Software. “Sparq represents a wonderful opportunity for
our clients, allowing us to utilize their size and history of
technical excellence to bring scale and additional scope. We are
excited to be part of the Sparq family and its award-winning
culture as we chart a path forward with new technology and
solutions in the financial sector.”
In 2023, funds managed by Harvest Partners Ascend Management, LP
acquired a majority stake in Sparq, intended to allow the company
to further scale its operations and digital service offerings. Bain
Capital Double Impact, has also been one of Sparq’s investment
partners since 2019. Based in Atlanta, Sparq empowers agile and
experienced software engineering teams across the country with a
disciplined, product-oriented approach and the collaborative
mindset to meet and exceed customer needs. The company was founded
in 2004 and has become known nationally as an employer of choice,
winning numerous workplace culture awards.
About Sparq
Sparq is the leading provider of outsourced digital engineering
to develop great digital products and experiences, purpose-built
for the Cloud and powered by data and AI. With an emphasis on
high-quality results, speed, flexibility and integrity, Sparq’s
unique blended onshore/nearshore delivery model maximizes cost
effectiveness, clear communication and the ability to quickly
scale. The company offers world-class solutions to
technology-driven and Fortune 1000 clients in various industries,
including Logistics and Transportation, Healthcare, Financial
Services, and Insurance. For more information, please visit
www.teamsparq.com.
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Tyler Pearson tyler@high-iron.com