Siguler Guff-backed Solvd completed the acquisition of EastBanc Technologies.

Siguler Guff-backed Solvd, an end-to-end software engineering company and global technology consultancy, completed the acquisition of EastBanc Technologies, a software development company. Financial terms were not disclosed. "Through this acquisition, we are pivoting our focus to enable our clients to thrive in the AI era recognizing that the maturity of Artificial Intelligence driven by GenAI solutions is a massive market opportunity. As we look at the market landscape today, traditional IT services firms focusing on system integration and labor arbitrage are not well-suited to embark on providing the critical AI capabilities that leading organizations need. Solvd's digital engineering heritage, combined with EastBanc capabilities, positions us to do so," Adam Gabrault, Solvd CEO.