Ernst & Young (EY) Canada has acquired Gensquared, a Microsoft and MicroStrategy technology consulting partner that has big data, analytics and artificial intelligence (AI) expertise. Financial terms of the deal were not disclosed.
This is technology M&A deal number 411 that ChannelE2E has covered so far in 2022.
Gensquared has a Data Team as a Service approach to help customers organize, structure, and deliver trusted data. Gensquared’s headcount tripled to 45 employees as of mid-2021 from 15 employees in early 2020.
Big Data and IT Consulting: M&A Perspectives
In a prepared statement about the deal, Linda Williams, managing partner for consulting at EY Canada, said:
"Effective data management can enable better compliance and provide insights that facilitate strategic business decisions underpinning transformation and growth. But as technologies rapidly evolve, regulations increase and skilled talent becomes harder to find, many organizations struggle to keep up and transform data into valuable business insights. Together, with Gensquared, we'll help companies bridge silos and modernize capabilities to help them uncover new value and reach impactful outcomes."
Added Alex Mohelsky, the data, analytics and AI leader at EY Canada:
"Data and analytics are necessary to successfully drive all things digital. By merging our proprietary technologies and global reach with Gensquared's business expertise and technical capabilities, we'll provide the insights and solutions that our clients need to be more agile, innovative and better equipped to respond to disruptive change."
Noted Patrick Siconolfi, Gensquared co-founder and CEO:
"We're extremely excited to combine forces with EY in our pursuit to become the premier data and analytics provider in Canada."
Concluded Phil Chen, Gensquared co-founder and COO:
"Finding an organization with a culture, purpose and a leadership team that aligns closely to ours was very important. We know that, with EY, we'll continue our mission to redefine how businesses organize, structure and uncover data in innovative ways that deliver new value for all stakeholders."
Ernst & Young (EY): M&A Activity
EY continues to acquire IT consulting firms that have application, cybersecurity and managed services expertise, as well as digital and customer experience expertise.
Other recent EY acquisitions include:
- April 2022: Black Dot Consulting, an Australian customer experience consulting firm. Financial terms of the deal were not disclosed.
- April 2022: SAP partner Client Solvers (Holding), known as Client Solutions.
- April 2022: EY-Parthenon — an Ernst & Young LLP (EY) division — acquired Quantitative Scientific Solutions (QS-2) to expand its expertise in scientific, engineering and advanced analytics consulting capabilities.
- March 2022: EY Canada, part of Ernst & Young, acquired ServiceNow partner SuMO IT Solutions.
- February 2022: T-Plus Consulting of South Korea.
- August 2021: Ernst & Young, Australia acquired MSSP and cybersecurity consulting firm SecureWorx.
You can see a full list of all EY merger and acquisition activity that ChannelE2E has tracked here.