I’m very happy to announce that Octobot has been acquired by Sparq, an Atlanta-based company. I’m certain that this is the right step to continue moving forward, and that we have found in Sparq the right company to do this.
This has been an amazing adventure so far, and this acquisition is none other than a milestone on a journey that continues.
As with most operations of this type, there are a myriad of press releases:
In this post, I wanted to briefly give an overview of my take on why I think this is great.
The Right Step
I’m not using the term «step» loosely here, as I think this is a proper analogy to what this is. In a step, you have the movement, the timing – and it’s what allows you to move forward.
As for the movement, continuing our international expansion and upscaling our US presence was a reasonable path ahead. A growing, larger organization requires larger accounts and a significant sales operation. This is by no means something that we couldn’t do, but this certainly caps the risks and speeds up the process.
As for timing, I think the market for IT services is entering a consolidation phase, and it is of huge importance to reckon with that environment moving forward. While there will surely be amazing opportunities ahead for independent organizations, I believe these will start to evolve as value networks reconfigure in light of the disruptive innovation of LLMs.
A nice match
We have been approached a number of times recently about an acquisition, but most of those were merely financial integrations which did not appeal at all to us.
After getting to know the amazing team at Sparq, I think they will be exceptional stewards for the organization, as their track record shows. Overall great people, very driven, reasonable, and professional.
This acquisition is part of an overall strategy which I believe is sound and clear, that harbors great opportunities for our team and high-quality growth for the company.
Last, but not least, we have witnessed first-hand their interest and commitment to low disruption for our team and clients. We have a shared belief in the importance of long-lasting relationships, which was paramount to our decision.
Going forward
I’m really excited about the future of the organization and what our amazing team can bring to the table overall. As I mentioned, I think Sparq’s strategy is sound, and they have a very competent, highly-driven team.
Guillermo and Luciano, my partners, will remain in the organization going forward, which I believe is a wise decision as they have proven to be top-notch.
What now?
As for me, I’m planning on taking some time off and enjoying some family time, re-engaging with education and goodwill initiatives before embarking on other new endeavors besides investing.
I’m very proud of what we have built, and this acquisition by an organization like Sparq acts as validation of that. What a journey!
Juan Saavedra 