Ernst & Young, Australia (EY Australia) has acquired Axiom Forensics as part of a deeper push into the legal services vertical. Financial terms of the deal were not disclosed.
This is technology M&A deal number 460 that ChannelE2E has covered so far in 2022.
Axiom Forensics offers independent forensic accounting, valuation and dispute consulting services --backed by specialized data analytics capabilities. The company, based in Sydney, Australia, has 12 employees listed on LinkedIn.
The acquisition positions EY Australia to better serve clients, particularly legal firms by providing specialist expert witnesses, consulting, valuations, data and analytic services, the buyer said.
Describing the acquisition, Rob Locke, EY Oceania Forensic & Integrity Services leader, said:
“We are experiencing unprecedented growth and our Disputes offering has played a key role. The opportunity to significantly enhance our footprint in Sydney through the acquisition of a highly successful disputes firm made strategic sense. We have known and observed Axiom Forensics for many years and have been great, albeit begrudging admirers of their work. In our opinion, they are the best in Sydney at what they do so the decision to ask them to join EY was an obvious one. Their vision and growth plans align perfectly with ours and they will be a big part of this continued growth.
Axiom Forensics have great relationships with the major law firms, particularly in Sydney and this will benefit our clients as well as EY. For Axiom Forensics, the strength of the EY brand and the access to the resources, skills and talent we have globally, will enable them to take their services to the next level.”
The addition of the Axiom Forensics team to bolster our Sydney practice, along with other significant hires and promotions in the last 12 months, means we are the pre-eminent provider of dispute and claims services in Australia.”
Added Michael Potter of Axiom Forensics:
“Over recent years we have encountered a number of instances in which we have had to rely on external experts to assist on our engagements. By joining forces with EY, we will be able to complement our existing skills with industry expertise and other in=house skills, such as economics and statistics. It’s a great next step for us – I am looking forward to being part of a big team where we can bounce ideas around and hear different perspectives. Our people – many of whom have been with us for more than 10 years are excited for the opportunities joining EY will bring in terms of training and development and exposure to new skills and clients.
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.
Example EY acquisitions in 2022 include:
- April 2022: Gensquared, a Microsoft and MicroStrategy technology consulting partner
- 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.
You can see a full list of all EY merger and acquisition activity that ChannelE2E has tracked here.