Grid Dynamics Announces Combination with ChaSerg Technology Acquisition Corp. to Become Publicly Listed Company

SAN RAMON, Calif. & NEW YORK--(BUSINESS WIRE)--Grid Dynamics International, Inc. (“Grid Dynamics”), a leader in driving enterprise-level digital transformation, today announced that it has entered into a definitive merger agreement with ChaSerg Technology Acquisition Corp. (Nasdaq: CTAC) (“ChaSerg”), a special purpose acquisition company led by Chief Executive Officer Lloyd Carney and President and Chief Financial Officer Eric Benhamou. Upon completion of the combination, Grid Dynamics will become a Nasdaq-listed public company, with an anticipated initial equity market capitalization of approximately $515 million based on a stock price of $10.00 per share. Immediately upon consummation of the transaction, ChaSerg will change its name to “Grid Dynamics Holdings, Inc.”