By Louis Goss
Deloitte has completed its acquisition of London tech consultancy Reformis as it pushes forwards with efforts to bolster its advisory business.
The acquisition, for an undisclosed sum, will see Reformis’ 83 staff join the Big Four accounting firm as it seeks to capitalise on booming demand for tech focused advice.
Founded in 2003, the consulting firm Reformis sells an array of IT services to its investment manager clients.
Deloitte’s vice chair Tony Gaughan said: “This is a transformative transaction and it demonstrates Deloitte’s commitment to continue growing our investment management practice.”
“It will further enhance our global technology proposition in this sector and our ability to offer these services at scale,” Gaughan said.
Deloitte UK’s head of consulting, Rob Cullen, said: “Given the ever-increasing importance of data and technology to the investment management industry, our clients will only benefit from the depth of talent and breadth of expertise that our combined investment management business, can now offer.”
The deal comes as the world’s four biggest accounting firms – EY, KPMG, PwC, and Deloitte – have sought to cash in on firm’s digitalisation drives by selling tech consulting services to companies, increasingly strengthened their offerings in the markets for cybersecurity, cloud computing, and digital infrastructure advice.
The deal also comes amid Deloitte’s wider efforts to bolster its consulting business by taking on 3,500 new consultants as part of a £220m hiring spree.
The hiring plans will see Deloitte boost the size of its consulting workforce by 40 per cent over the next five years from 7,500 to 11,000.
The hires are set to include around725 app and web designers, digital consultants, and cloud and machine learning engineers.
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