Solvd Inc. Acquires EastBanc Technologies to Drive Its New AI-Strategy

WALNUT CREEK, Calif., Oct. 7, 2024 /PRNewswire/ -- Solvd Inc., an end-to-end software engineering company and global technology consultancy, announced today the acquisition of U.S. based AI-consulting firm, EastBanc Technologies, setting a clear course for Solvd's AI-driven strategy and new AI offerings.

Washington, D.C.-based EastBanc Technologies is a leading IT consultancy with over 20 years of experience serving enterprise and government clients. It has core strengths in AI, Data, Infrastructure & DevOps, and Product Development that will help further evolve Solvd's existing core offerings. The combination of Solvd and EastBanc brings together Solvd's robust engineering capabilities with experts who recently authored the well-regarded book, AI Driven: Staying Alive in the Age of Digital Darwinism. Together they plan to enhance their offerings to clients, providing the strategy and tools needed for advancing in the AI era.

Adam Gabrault, CEO of Solvd, said, "Through this acquisition, we are pivoting our focus to enable our clients to thrive in the AI era recognizing that the maturity of Artificial Intelligence driven by GenAI solutions is a massive market opportunity. As we look at the market landscape today, traditional IT services firms focusing on system integration and labor arbitrage are not well-suited to embark on providing the critical AI capabilities that leading organizations need. Solvd's digital engineering heritage, combined with EastBanc capabilities, positions us to do so."

Wolf Ruzicka, Chairman at EastBanc Technologies, added, "AI is one of just a handful of transformational events in human history. The vast opportunities it brings to our people, partners, and clients to thrive are unprecedented, and mission-critical to embrace. Solvd and EastBanc Technologies have built truly great, complementary businesses, and this close partnership highlights an imperative, timeless vision, mission, and engineering culture of innovation in production."

Solvd's New AI Offerings

In alignment with its new vision and mission, Solvd announced today that it is launching new service offerings that support an AI-driven digital future for clients at any stage of their current AI maturity journey. These offerings include:

• Establishing an AI Acceleration & Center of Excellence that defines AI strategy, reference architecture, and building a 12-24 month roadmap
• AI Maturity Index, identifying opportunities for AI activation within your organization
• AI Innovation-as-a-Service, turning ideas into actionable MVPs to accelerate your AI journey

To further engage with industry voices and drive thought leadership in the AI space, Solvd will be hosting a multi-city executive roundtable series throughout the remainder of the year. These events will bring in AI innovators, providing a platform for conversation on the future of the industry with the intention of leaving attendees with actionable insights relevant to their organizations.

About EastBanc Technologies
Founded in 1999, EastBanc Technologies is a Washington, D.C.-based software development pioneer. The company creates cutting-edge technology solutions for customers worldwide in the commercial, enterprise and federal, state and local government sectors. In 2022, EastBanc Technologies was recognized as No. 38 on Fast Company's list of the 100 Best Workplaces for Innovators. For more information, visit eastbanctech.com. 

About Solvd
Solvd is an end-to-end software engineering and consulting company headquartered in California with over 800 employees located across Latin America, North America, and Europe. Solvd delivers exceptional engineering and digital solutions to Fortune 500 clients across high-growth industries including financial services, retail & e-commerce, healthcare & life sciences, social media, software, and more. The services list covers all aspects and needs of modern businesses, including software product development, digital experience & design, DevOps & cloud, data, and AI/ML services. To get more information about Solvd, please visit https://www.solvd.com.

Solvd is a portfolio company of Siguler Guff, a leading global multi-strategy private market investment firm with over $16 billion of assets under management.

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SOURCE Solvd Inc. and Siguler Guff