This is technology M&A deal number 144 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals for 2022, 2021 and 2020 listed here.
The acquisition was carried out through the company’s EY-Parthenon division, which was formed in 2014 when EY purchased The Parthenon Group.
South Korean T-Plus Consulting marks EY-Parthenon’s first acquisition in Asia since its founding. The deal adds approximately 30 employees to the company’s headcount.
T-Plus was founded in 2003 as a management consulting firm specializing in business growth, mergers and acquisitions and value creation. The firm works with corporations in various sectors including consumer goods, retail, healthcare, waste, manufacturing and technology, as well as private equity.
The deal expands EY-Parthenon’s strategy-focused offerings in the B2C and B2B industries in South Korea, the company said. The increased capabilities and capacity will support the competitive position of EY, particularly in relation to mergers and acquisitions and value creation strategies for acquiring companies, according to EY.
EY Acquires T-Plus Consulting: “A More Meaningful Impact”
Jae Won Choi, the leader of EY-Parthenon in South Korea, commented:
“The addition of T-Plus Consulting will help EY Korea make a more meaningful impact in the Korean market.”
Dongbeom Byun, Founder, T-Plus Consulting, added:
“We are delighted to join EY-Parthenon, where we will be able to maintain our deep client relationships by providing more effective and expanded customer services as a result of the synergies between T-Plus’ strategic consulting and the experience and talent across the global EY network.”
EY-Parthenon’s Growth Strategy
The deal comes three months after EY-Parthenon acquired CMA Strategy Consulting, a US-headquartered firm focused on the technology, media, and telecom sectors.
Meanwhile, in 2020, the strategy consulting wing of EY bought Port Jackson Partners in Australia. Before that, the firm acquired the Dutch, German and French practices of OC&C Strategy Consultants.