This is technology M&A deal number 898 that ChannelE2E has covered so far in 2022.
Deloitte Acquires Financial Services Consultancy Reformis
Deloitte, founded in 1845, is headquartered in London, England. The company has roughly 456,000 employees worldwide. Deloitte’s major areas of expertise are in audit, consulting, advisory and tax services offerings. But the company also has a major footprint in the worldwide IT service provider (ITSP) market.
Reformis, founded in 2003, is based in London, UK, with offices in Australia and the U.S. The company has 81 employees listed on LinkedIn. Reformis’s areas of expertise include asset management, investment management, business consultancy, systems consultancy, technical consultancy, application development and data management.
The addition of Reformis’ investment management technology and data experts will boost Deloitte’s existing capabilities and will double Reformnis' headcount by 2027, the companies said. Reformis’ chief executive officer, Brian Woodham and chair, Paul McPhater, will become Deloitte partners. Reformis’ people in the UK, Australia and United States workforce will integrate into Deloitte’s consulting practices in those markets upon completion of the deal.
Deloitte Acquires Reformis: Executive Perspectives
Tony Gaughan, vice chair and investment management EMEA co-leader at Deloitte, commented:
“Technology and data have never been more important for the investment management and wealth industry. It is an area that is growing at exceptional pace, with our clients continuing to increase in size and complexity in what is a highly regulated environment with rapidly evolving customer expectations. Reformis’ highly experienced team of experts have a track-record of delivering impressive technology and data implementation projects in the investment management industry. It is this experience that will complement our existing capabilities in a way that is critical to meeting our clients’ needs.”
Brian Woodham, Reformis’ chief executive officer, added:
“This is an exciting time for Reformis as we build on our achievements from the past 19 years. In that time, we have helped clients achieve their investment and wealth management business goals by advising, designing, and delivering data-led solutions globally: Covering strategic, technical, operational, and change programmes. The future combination of our business and people with the exceptional team at Deloitte and benefitting from Deloitte’s global network will ensure that we are able to provide a very compelling offering across the investment management market. After completion we will be able to deliver new solutions for our customers through Deloitte’s wider set of capabilities, such as cyber security and systems testing technology.”
Anne-Marie Malley, managing partner for consulting at Deloitte, concluded:
“This transaction demonstrates our confidence and willingness to invest where there is clear market demand. It is an important step for our investment management team and our consulting business as we expand our capabilities for our clients. The depth of talent from Reformis with the breadth of Deloitte’s capability will enable us to offer our investment management clients an even broader range of expertise.”
Deloitte M&A Activity
Deloitte has remained active in the M&A market, acquiring MSP, MSSP and IT consulting firms worldwide.