On Friday Chicago innovation firm DevMynd announced it has acquired Polymathic. Polymathic will not continue on in its "current form," according to DevMynd founder JC Grubbs, but DevMynd will be absorbing a number of Polymathic's employees, clients, and the Polymathic brand.
"Over the last seven years, Polymathic has worked with a broad set of startup and mid-market clients," wrote Grubbs in a blog post announcing the acquisition. "Their services have spanned product strategy and innovation, UX and design, and custom software development. These skills and experiences match well with DevMynd’s core practice areas which creates alignment between the teams."
DevMynd and Polymathic's work often overlapped, said Grubbs, so when he started looking for growth opportunities "The synergy in services and values made a lot of sense and the timing was right," he said to Chicago Inno over email.
Grubbs noted that DevMynd, which has offices in Chicago and San Francisco, recently renewed its work with the "impact sector," and he's "excited to welcome the team members from Polymathic who will add their efforts, voice, and insight to this mission."
Polymathic was founded in 2010 and has approximately 13 employees, according to their website.
“This acquisition allows two teams that care deeply about quality products and genuine problem-solving, to join forces in a way that supports midwestern and national industries at the next level," Polymathic founder Marcy Capron Vermillion added in the blog. "I am so delighted to hand the reigns to JC based on our companies’ commonalities, but also because as a fellow engineer there’s a certain trust I felt from day one. Moreover, my team is so excited to merge into the DevMynd culture and philosophy — that’s how you know you’ve got a good fit on your hands!”
Vermillion will be consulting for Polymathic and DevMynd during the transition between their two companies, but will not continue on with the company. She's now focused on new innovation projects, she told Chicago Inno over Twitter.
@karishustad oh & as for why I chose not to go FT—I need to double down on my career on the innovation/product side. Back into the trenches!
— MCapronVermillion (@marcymarcy) January 23, 2017
Terms of the deal were not disclosed.
Note: Updated with comments and clarification from JC Grubbs and Marcy Capron Vermillion.
