Consulting M&A Weekly Round-up (8th to 14th May, 2022)

by | May 17, 2022 | 0 comments

We are back again with our weekly digest of consulting M&A news for you. This week, like the last, has seen a lot of deals go through. So, in this week’s round-up, we’ll take a look at some of the biggest stories from the past seven days including big deals done by firms such as Deloitte, Ernst & Young, and much more.

#1. Fiftyfive5 acquires The Leading Edge and The Digital Edge

Fiftyfive5, a research consultancy firm has made two big purchases by acquiring Sydney-based research and data consultancies The Leading Edge, and The Digital Edge from marketing & communications group Enero.

The Leading Edge was founded more than three decades ago and specializes in providing brands and retailers with insight, innovation, shopper marketing, and brand management services. The Digital Edge, on the other hand, was founded in 1999, and is an online market research fieldwork agency that provides researchers and PR agencies with data. Moreover, both these agencies have been a part of Enero since the year 2004.

With this recent takeover,  Fiftyfive5 looks forward to bolstering its existing capabilities in automation, technology-based delivery of insights, modeling, and data analytics.

#2. Chartertech hits 100 employee milestone following Infocube deal

Chartertech, a financial technology consultant located in Canberra, has acquired Infocube, enhancing its business analytics and corporate performance management capabilities.

Chartertech, which was founded in 2017 by Michael McRoberts and George Skillin (along with a co-founding team), focuses on the same niche that combines finance and accounting experience with deep technical systems and process understanding. Moreover, their services are based on two technology stacks: IBM’s Planning Analytics and IBM Cognos Business Intelligence, and TechnologyOne’s Enterprise Software as a Service.

This deal brings an additional team of 20 professionals to Chartertech, including trained accountants and technology specialists, bringing the company’s headcount to over 100 in less than five years.

#3. Cyient adds business consultancy Grit to its consulting practice

Cyient, an Indian firm that provides IT services, recently completed an acquisition of a consulting firm called Grit Consulting. As a result of this acquisition, it has added around 40 staff to its consulting division.

Grit Consulting was founded in 2014 and provides a variety of services to clients, including organizational transformation, operational excellence, process design, digital transformation, and change management.

The deal will enable the firm to leverage Cyient’s international reach and technology capabilities to enhance its services. Moreover, it will further strengthen Cyient’s capabilities to enable sustainable performance improvements and cultural enhancement across the organization.

#4. BIP acquires capital markets consultancy Riskcare

Italian consulting group BIP has acquired RiskCare, a UK financial services advisory firm. With a core focus on FinTech innovation, RiskCare’s 60 staff deliver trading and risk technology from offices in London and New York.

RiskCare has been professionalizing FinTech engineering since 1994. It has become a leader in software engineering and quantitative financial modeling. RiskCare’s innovative strategy is helping to advance the capital markets business. It serves investment banks, IICs, hedge funds, exchanges, commodities trading houses, and insurance firms.

BIP’s acquisition of Riskcare will help the company expand its financial technology consulting services.

#5. Deloitte buys data science and machine learning specialist Intellify

Deloitte has purchased award-winning data science expert Intellify, which the Big Four professional services giant claims will make it a market leader in the field.

Intellify, an Amazon Web Services, and Databricks expert was launched in January 2018 by Kale Temple and Matt Alamdari, Nikzad Rizvandi, and Iman Eftekhari. Meanwhile, Kale Temple and Matt Alamdari will join Deloitte Consulting as partners later this month, while Nikzad Rizvandi will join as a director.

Deloitte’s purchase of Intellify will enable both firms to change the data science and machine learning landscape across the whole of Australia.

#6. Building consultancy Paragon joins global player Collier

Colliers, an investment management company has successfully acquired Paragon for an undisclosed fee. The move adds independent building consulting to the current European project management division of Colliers.

Perry and co-founding partner John Munday established Paragon in London in 2009 to provide building surveying, project management, environmental assessments, and energy and sustainability consulting to owners, investors, and users of real estate.

The new partnership deal with Paragon will strengthen Colliers and their capabilities within the UK and extend their reach into Europe allowing them to better serve their clients’ needs.

#7. ITI acquires data consultancy D2V Analytics

ITI, a Quebec City-based IT consulting firm, has been purchased by D2V Analytics, a Montreal-based boutique cloud business intelligence (BI) and analytics consultancy firm.

D2V Analytics, which was just founded a year ago, helps businesses with Bi and analytics roadmap strategy, analytics engineering foundations, visualization, and advanced analytics. Small and medium-sized enterprises can use the firm’s Cloud Stack managed services to get a readymade BI platform. D2V’s flexible, pay-per-use strategy makes use of leading cloud platforms and allows clients to work in hybrid and cloud environments.

According to a corporate press release, ITI’s acquisition of D2V will strengthen the firm’s data management procedures and increase its strategic IT consulting offering.

#8. BlueRock adds Melbourne-based legal boutique to the law division

BlueRock, a Melbourne-based professional services firm, has bought the bulk of Marsh & Maher Richmond & Bennison, adding 22 more employees to its legal business.

Founded in 2008, BlueRock has grown into a full-service professional services company for small and mid-sized businesses and entrepreneurs in Melbourne and the rest of Victoria. The firm offers accounting, legal, business advisory, digital, insurance, taxation, and private wealth services.

This move will provide the firm access to a wider range of clients and expertise across BlueRock’s various service lines, allowing teams to diversify their offerings.

#9. EY adds boutique Axiom to Forensics & Integrity Services practice

Ernst & Young have made another acquisition in the form of Axiom Forensics, a boutique disputes resolution and forensic accounting firm. This happens to be EY’s third deal in as many months (Blackdot and Cadence being the other two).

Axiom Forensics, founded in 2004, provides independent expert forensic accounting, valuation, and dispute consulting services, as well as technology and data analytics capabilities. The firm serves clients from a variety of industries, with a particular emphasis on law companies.

Speaking about the deal, EY’s CEO was excited about the prospect of adding Axiom to the EY team. He stated by saying that their strategic ambition is to grow the forensics practice across Oceania, and the caliber of the team at Axiom Forensics will assist them in achieving this ambition.

#10. Other consulting M&A deals

  • Management of RSM buys up shares of former UK partners.

Closing Thoughts

Thank you for reading! It was indeed a pretty busy week with a lot of consulting M&A deals going through. If you think we’ve missed out on mentioning some of the deals, do write to us. Furthermore, we will be back again next week and delve into more consulting M&A deals. We’ll see you all soon.

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