Irving Tech Company Aims to go Public at Valuation of Nearly $500M

Dallas-Fort Worth is set to get another public company, and this one is in technology.

Irving’s AgileThought, a provider of digital and consulting services options, and LIVK, a special purpose acquisition company (SPAC), landed an agreement that aims to put the local company on the Nasdaq. AgileThought is set to get a market capitalization of about $491 million.

The company is joining a growing list of local businesses that have made the move to the public markets. They include Plano’s Alkami Technology, which held an initial public offering last month, and Dallas’ Instil Bio, which had an IPO in March.

AgileThought is set to receive $124 million in primary proceeds, according to an investor presentation. Nearly $20 million will be for available cash with the post-business combination. It also will pay down its existing $97 million credit facility in full.

The company, which has more than 2,000 employees, saw revenue decline last year amid COVID-19 headwinds. Yet sales are set to rise to $184 million in 2021, an increase of 13 percent. Then, it’s set to climb by 30 percent in 2022.

Read the full story at Dallas Business Journal.