Infinum Ltd. (“Infinum”), the largest independent Croatian software design and development agency, is strategically expanding its operations to the USA by acquiring 100% of ExpandTheRoom LLC (“ETR”), a New-York based digital strategy and design agency. GRUBISIC & Partners Corporate Finance acted as an exclusive financial advisor to Infinum in the transaction process.
Information about the Acquirer
Founded in 2005, Infinum is an independent design and development consultancy that partners with leading global brands and world-renowned enterprises to deliver innovative digital solutions for an array of industries including finance, healthcare, hospitality, retail, and automotive. Infinum's work is used by millions around the world and has been recognized with prestigious industry awards including Red Dot and iF Design Award. Employing almost 400 professionals, the company operates from eight offices across the US and Europe to design, build, and scale authentic digital experiences that deliver value to business and empower people. Infinum has a history of working with major global brands and has a diverse client roster including Philips, Porsche, Warner Bros, and Hallmark.
Information about the Target
Headquartered in New York, ETR is a highly regarded digital strategy and design agency celebrated for its inventive approach to crafting captivating digital experiences, with more than 20 years of experience in delivering and creating digital experiences to the clients such as Citibank, ESPN, Reuters, Business Insider, MLS (Major League Soccer), Honda and others. Their expertise encompasses strategy, user experience design, and digital transformation, consistently delivering impactful solutions to a diverse client portfolio. With a fully distributed team covering the entire US market, ETR is poised to continue supporting their existing clients while extending their services to new clients within the Infinum group. As the US office expands, employees will have the opportunity to engage in significant projects on the global stage.
By acquiring ETR, Infinum is strategically expanding its operations in the US market and reinforcing its global presence for large enterprise clients. This move reflects Infinum's commitment to maintaining its upward growth trajectory. This acquisition was funded through a combination of internal resources and EBRD loan totaling EUR 10.8 million, designated for both this acquisition and upcoming strategic acquisitions. Infinum consolidated revenues are expected to increase by over 20% compared to the previous year, with projected revenues of EUR 29 million for 2023.