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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