Financial Services Consulting M&A: BearingPoint Acquires Levo Consultants
European management and technology consulting firm BearingPoint has acquired financial services consulting firm Levo Consultants. Financial terms of the deal were not disclosed.
This is technology M&A deal number one that ChannelE2E has covered so far in 2023. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
BearingPoint Acquires Levo Consultants
BearingPoint, founded in 2002, is based in Amsterdam, The Netherlands. The company has 9,849 employees listed on LinkedIn. BearingPoint’s areas of expertise include business consulting, technology consulting, management consulting, digital & strategy, finance & regulatory, operations, technology, advanced analytics, digital platforms, RegTech, software development and Agile Advisory.
Levo Consultants, founded in 2018, is based in Paris, France. The company has 33 employees listed on LinkedIn. Levo’s areas of expertise include strategy, governance and operational efficiency, finance, risk and compliance, experience and customer relations, data and AI as well as CSR and impact transformation.
The acquisition of Levo Consultants will further expand BearingPoint’s expertise in the financial services consulting space, the companies said.
BearingPoint Acquires Levo: Executive Insight
Kiumars Hamidian, managing partner at BearingPoint, said of the acquisition:
“Levo Consultants has a proven practice in helping clients in financial services modernize and outperform. The acquisition marks another step in BearingPoint’s ambition to support the growth of our banking and insurance clients, embodied in our Strategy 2025. Once again, we see compelling new value propositions for our clients with the addition of Levo Consultants to the BearingPoint family.”
Axelle Paquer, regional leader of BearingPoint France, Belgium, Luxembourg and Africa, commented on the news:
“The connection between Levo Consultants and BearingPoint is obvious: our know-how and client portfolios complement each other. There is also a cultural and strategic fit. Above all, we desire to move forward together. Our European footprint will certainly benefit from the seniority of Levo’s consultants.”
Scott Crunden, co-founder and president of Levo Consultants, added:
“The integration of the Levo team with BearingPoint will enhance the approach we have developed by leveraging their reputation and capacities as a large consulting firm. We are writing a new chapter together, and it will allow our customers and employees to measure the benefits.”
BearingPoint M&A Activity
BearingPoint is no stranger to M&A. In June 2022, BearingPoint acquired disphere tech, which provides cloud solutions to the financial services industry. In August 2022, digital transformation consultant and IFS cloud services provider Arcwide acquired digital transformation and ERP solutions integration specialist Fekra Digital Services. Arcwide is a joint venture between BearingPoint and IFS cloud services.