Grid Dynamics Holdings, Inc. (NasdaqCM:GDYN) entered in an agreement to acquire Tacit Knowledge Ltd from Pitney Bowes Inc. (NYSE:PBI) on May 21, 2021. The transaction was financed using available cash reserves. As a part of the acquisition, the entire team of Tacit Knowledge Ltd , including senior management, will join Grid Dynamics Holdings.

The transaction is expected to close in the second quarter of 2021.