PwC is set to acquire Surfaceink, a company with deep roots as a hardware engineering partner for Apple during Steve Jobs’ leadership
In a notable development within Silicon Valley, professional services firm PwC is set to acquire Surfaceink, a company with deep roots as a hardware engineering partner for Apple during Steve Jobs’ leadership. While financial details remain undisclosed, the acquisition reflects the evolving dynamics in the hardware industry.
Surfaceink, currently a key player in designing and prototyping hardware for consumer and enterprise use, is known for its extensive labs testing acoustics and electronics. The company, founded by CEO Eric Bauswell, has never sought external funding and boasts a workforce of around 50 employees in the Bay Area, all of whom will transition to PwC as part of the deal.
Notably, Surfaceink’s clientele reads like a who’s-who of the tech industry, featuring names such as Amazon, Dell, Facebook, Google, Microsoft, and more. PwC, traditionally not associated with the hardware sector, aims to leverage Surfaceink’s expertise to enhance its understanding of clients’ hardware-related needs.
Jenny Koehler, PwC’s business development head, highlighted the alignment of timing and interests in the acquisition. Over a year ago, discussions began as both parties explored opportunities to broaden their respective scopes. Koehler stated, “Surfaceink was one of them. It happened to be at the same time that they were exploring [alternatives] for their purposes to be able to deliver more broadly with their clients.”
Surfaceink had previously played a pivotal role in Apple’s hardware development, collaborating on products such as the iMac, PowerBook, iPod, iPhone, iPad, and MacBook. However, their partnership took a turn in 2010 when Surfaceink presented its own tablet designs, leading to Apple discontinuing the collaboration.
Eric Bauswell shed light on Surfaceink’s value proposition, stating, “We’ve got a team that’s got a ton of experience in shipping product.” He emphasized the company’s role as the initial team on the ground for clients venturing into new product launches, mitigating risks associated with such endeavors.
With the acquisition, Surfaceink stands to become an even more appealing partner for larger clients, especially those outside the tech sector, seeking to explore hardware-related strategies for future business growth.
Surfaceink’s journey, from its founding in 1999 to its recent acquisition by PwC, showcases the company’s resilience and pivotal role in the technology industry. While its relationship with Apple faced a setback in 2010, the company’s expertise remains sought after, evident in its collaboration with a diverse range of industry leaders.
As part of the big-five consulting firm, Surfaceink is poised to navigate new opportunities, bringing its wealth of hardware design experience to a broader client base under the PwC umbrella. The move aligns with broader industry trends, reflecting a strategic shift in the pursuit of integrated hardware solutions for business growth.
