Metova Inc., a Tennessee-based software development firm, is relocating its corporate headquarters from Franklin, Tenn., to Bentonville.
The company announced the move Thursday (Jan. 5) while also disclosing that its internal management team has acquired the firm from Lightview Capital, a Summit, N.J.-based private equity firm.
“The Metova team is well-positioned for growth as a result of this acquisition,” Josh Smith, CEO of Metova, said in a statement. “This enables our team to focus on expansion, while also giving us the opportunity to increase our commitment to the state of Arkansas.”
According to the news release, the ownership change supports Metova’s focus on providing software solutions in industries such as healthcare, hospitality, retail, consumer services and entertainment, fintech, and the Internet of Things.
The company’s Bentonville headquarters will be inside the 230,000-square-foot Ledger office building, which opened this past November.
The news release said Metova would “increase recruiting efforts, collaborate with local businesses, and be an active member of the Ledger community of brands servicing the community and the city of Bentonville.”
“We couldn’t be more excited to have Metova establish their headquarters in Bentonville,” Arkansas Gov. Asa Hutchinson said. “Metova has already been a valuable member of the Arkansas community for nearly a decade, supporting our local startups, our computer science initiatives, coding academies, and establishing local intern programs and career opportunities for college students in Arkansas.”
Founded in 2006, Metova’s management team includes Josh Smith (chief executive officer), Jonathan Sasse (chief strategy officer), Andrew Cowart (chief technology officer), Cade Collister (vice president of UX/UI) and Josh Duntz (president).
“We’re thrilled to welcome Metova to Bentonville,” said James Bell, vice president of economic development for the Greater Bentonville Area Chamber of Commerce. “They’ve been an important member of the Northwest Arkansas tech community for several years. We’re grateful they chose to deepen their relationship with us and look forward to supporting their recruitment and growth efforts.”
STILL WORKING REMOTELY
In a follow-up question from the Northwest Arkansas Business Journal about employees, Smith said the move to Bentonville and, in particular, the Ledger will help Metova address many of the changes of the past two years as it consolidates its base of operations around the needs of the business.
“Our team has remained remote since the summer of 2020 and will continue to primarily operate this way going forward,” he explained. “However, we also see an incredible opportunity to align with other businesses making their base of operations at the Ledger as well as having access to quality talent in Northwest Arkansas.
“With that said, Metova will occupy a small footprint at the Ledger initially as we look to ramp up business operations with senior HR leaders, a few senior developers, and our VP of design operating out of the Ledger at the beginning of 2023. This will be the only Metova office planned for 2023 as we consolidate from previous locations in Fayetteville and Conway in Arkansas, and Franklin, Tennessee.
“The Ledger will be a place for our entire team to meet, engage with clients and collaborate with others through 2023, starting in January with the entire Metova leadership team in attendance.”
Smith said Metova hired 24 employees in 2022 and expects to hire at least that many in 2023, with “heavy local recruiting” in Northwest Arkansas.