07 Nov 2018

The ProVen VCTs have announced the sale of their stake in TH_NK, a leading digital transformation agency. EPAM Systems, Inc., a global provider of digital platform engineering and software development services listed on the New York Stock Exchange, has acquired the agency to expand its footprint in Europe.

Beringea, the manager of the ProVen VCTs, first invested in TH_NK in 2009 to accelerate its growth and enhance its offering of digital, creative and strategic services. Over the course of the investment, TH_NK has scaled to become one of the UK’s leading digital transformation agencies working with a host of influential clients from the public and private sectors including Asos, Vue, and the UK Government’s GREAT Britain campaign.

Ranked as one of the Top 100 Digital Agencies in the UK, TH_NK works with customers through its unique collaboration approach, helping them strategize for the future and develop in-house capabilities that enable organizational change and growth. The agency delivers full-scale digital transformation across all aspects of the enterprise-level change that companies want and need; from organization and culture through customer experience and technology.

Beringea and the ProVen VCTs have substantial experience working with innovative businesses and entrepreneurs in digital media, the creative sector, and professional services. They have backed Mergermarket, the leading financial media platform, Third Bridge, a global network of expert consultants, and Whistle Sports, a rapidly growing sports media platform.

This transaction marks the third successful sale by Beringea to a leading strategic investor in the past six months following the acquisitions of Watchfinder and Chargemaster by Richemont and BP respectively. The success of the investor’s work alongside these entrepreneurial companies also comes ahead of the announcement of its latest fundraising for its two UK funds, the ProVen VCTs.

TH_NK was founded in 2004 by Tarek Nseir, a digital and creative entrepreneur and the Co-President of the British Interactive Media Association (BIMA). The business today has offices across the UK in London, Newcastle and Liverpool.

Malcolm Moss, Founding Partner of Beringea, commented: “Beringea seeks to create lasting success for entrepreneurial companies. Working with Tarek and the exceptional team at TH_NK throughout their journey to this acquisition has been remarkable – its growth, innovation, and leadership will ensure that it continues its success story as part of a global organisation.”

Tarek Nseir, Founding Partner of TH_NK and Co-President of BIMA said: “For the last 15 years, we have built an exceptional team that prides itself on delivering truly game-changing strategies in collaboration with our global clients. The next wave of technology change requires a breadth of data, emerging technology and scaled engineering capability that few can genuinely attain. This is a unique opportunity for us to not only think big but deliver big too. We can’t wait to get started.”

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