Thoughtworks to build digital technology platform to empower Ritchie Bros. to more rapidly unleash business value, scale and growth

Thoughtworks (NASDAQ: TWKS), a global technology consultancy that integrates strategy, design and engineering to drive digital innovation, today announced that Ritchie Bros., a global asset management and disposition company, signed a multi-year agreement with Thoughtworks to accelerate its modernization and digitization journey as it accelerates its transition to a global trusted marketplace for insights, services and transaction solutions for commercial assets.

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“The industrial equipment industry is changing rapidly and Ritchie Bros, as a global market leader, is embarking on an accelerated journey to transform the company’s business through technology,” said Baron Concors, chief information officer, Ritchie Bros. “I’m very excited about partnering with Thoughtworks to deliver our vision of a modern, digital marketplace that is seamless for our customers, employees and partners.”

Ritchie Bros. has a clear vision to implement a modern architecture to help drive business growth and scale and is embarking on a rapid test-driven development approach that is agile enough to support its future development and new business models. Together, the Thoughtworks and Ritchie Bros.’ engineering teams will design and build the capabilities that will speed development of Ritchie Bros.’ digital marketplace ecosystem using software-development life-cycle best practices, methodologies, processes, CI/CD tools and documentation.

“In today’s digital era, it is crucial for businesses to adapt to customers’ evolving preferences and needs. For Ritchie Bros., this means offering a seamless experience when transitioning between digital channels and auctions to make it as simple and easy as possible for customers,” said Chris Murphy, chief executive officer, Thoughtworks North America. “We’re extremely pleased to bring Thoughtworks’ 28+ years of experience in applying lean and agile design thinking, technology and business strategy to Ritchie Bros.’ digital marketplace, powered by a human-centered customer experience.”

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About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company’s suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers’ management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

About Thoughtworks

Thoughtworks is a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. We are 10,000+ people strong across 49 offices in 17 countries. Over the last 25+ years, we’ve delivered extraordinary impact together with our clients by helping them solve complex business problems with technology as the differentiator.

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