- The deal is expected to close in January 2023
- WillowTree is a digital product consultancy
- Insignia Capital Group invested in WillowTree in 2018
Insignia Capital Group has agreed to sell its majority interest in WillowTree to Telus International. The deal, expected to close in January 2023, has an enterprise value of $1.225 billion.
Founded in 2008 and headquartered in Charlottesville, Virginia, WillowTree is a digital product consultancy that provides end-to-end, strategy, design, full-stack development and growth marketing services. Insignia invested in the company in 2018.
“It has been an honor to partner with the world-class team at WillowTree during a period of transformative growth over the last four years. Management’s execution of the strategic plan we envisioned at the outset of our partnership has been truly exceptional,” said Tony Broglio, a partner at Insignia Capital Group, in a statement.
Telus International, an affiliate of Canadian wireless carrier Telus Corp, is a provider of digital solutions to enhance the customer experience for global brands. It is backed by Baring Private Equity Asia.
Insignia is a San Francisco Bay-based private equity firm focused on lower mid-market companies in range of industries, including consumer and business services.
Canaccord Genuity served as financial advisor to Insignia Capital and WillowTree on the deal while Kirkland & Ellis and Davis & Gilbert served as legal counsel.