Ascendum Acquires Sourcebits In A Bid To Boost Its Digital Design Capabilities

Ascendum Solutions, Wednesday said it plans to acquire digital consultancy Sourcebits to bolster its digital solutions offerings.

Sourcebits, a San Francisco-based mobile app designer has, as of late, become more of a full-service digital consultancy, with offerings in analytics, the Internet of Things (IoT) and cloud solutions across several industries, including retail, financial services, wellness, travel and technology.

Terms of the agreement were not disclosed.

[Related: Nokia Dives Deeper Into Software With Plans To Acquire Comptel For $370 Million]

Ascendum is a Cincinnati-based digital solutions company with offices in Hamilton and Blue Ash, Ohio, and New York, N.Y. The company is a wholly-owned subsidiary of private equity group Vora Ventures Group.

Neither company responded to requests for additional comment.

"Sourcebits' outstanding capabilities around UI/UX design, innovation and digital technologies, combined with our market reach, customer base and experience, will ensure that our combined team will help our customers achieve their digital transformation goals in a timely effective manner and be leaders in their industry," Kris Nair, president and CEO of Ascendum said in a statement.

"The combined technology and expertise will also drive further investments in core IP that deliver scalable mobile and commerce apps," Nair said in the statement.

Sourcebits claims to deliver digital solutions to over 400 clients across North America, Europe and Asia. The acquisition is expected to occur in the first quarter of 2017.