API transformation company Jitterbit today announced that it has acquired PrimeApps, a Turkey-based low-code application development service. Jitterbit plans to combine its API platform with PrimeApps to build an end-to-end platform that will make it easier for non-technical users to build business apps, something that -- almost by default -- includes integrating different data sources. This new platform is scheduled to become available in April 2022.
The two companies did not disclose the financial details of the transaction. Jitterbit CEO George Gallegos would only say that he believes it's "a great deal compared to the billion-dollar opportunity."
Jitterbit is on a bit of an acquisition spree. Last November, the company also acquired Wevo, an enterprise integration platform-as-a-service (iPaaS) provider that focuses on Latin America, while last May, it picked up eBridge, another iPaaS service that focuses on enabling data integration between on-premises and cloud e-commerce and CRM systems. In part, these moves were made possible by private equity firm Audax's 2020 investment in the company.
The Jitterbit team recently identified this opportunity of layering a no-code/low-code service on top of its platform. As Gallegos noted, from the beginning, the company had focused on automating business processes. Often, the result of these integrations and new workflows is a user experience that a developer then has to create. "We just saw this coming up over and over -- and that's why we've been looking for either building or finding someone like, in this case, PrimeApps, which was a wonderful combination that was a great fit [...]," Gallegos said. "This was key to accelerating our ability to deliver this capability to our customers in the market to allow them to have one end-to-end solution."
PrimeApps never took any outside funding since it was founded by Serdar Turan in 2015. Its 25 employees will all join Jitterbit. "We were already looking for ways to expand our footprint globally. But it's not easy -- it's tough," Turan said. "When Jitterbit approached us -- and they were already pretty big in their area -- they were completing what we were missing wonderfully. I saw the opportunity and now we join forces around growing together."
The PrimeApps brand is going away as part of this deal, Turan said, and the service will be fully merged into Jitterbit, with its customers moving to the new platform over time.
As Jitterbit's Gallegos noted, the company so far competed with the likes of MuleSoft and Boomi in the iPaaS business. These don't offer the kinds of end-to-end solution that Jitterbit now offers with the integration of PrimeApps, though I wouldn't be surprised if we saw them make similar moves in the near future, too.
"The promise of low-code development is now starting to come to life. By joining Jitterbit, we are becoming a first-mover that will help usher in this revolution, which will dramatically change how work gets done,” said Turan. "With Jitterbit’s advanced iPaaS and API management solutions, our platform will empower citizen developers, who are closest to their customers, to create new digital experiences that solve business challenges rapidly without having to rely on an army of IT engineers."