Consulting M&A Weekly Round-up (28th to 4th May, 2024)

As another week is upon us, we are thrilled to bring you our weekly round-up of consulting M&A news from around the world. We have a few deals to talk about this week which is spearheaded by EY US’s purchase of an IT consulting firm. So, without taking any longer, let us dive straight in and check out all the latest happenings.

#1. EY acquires IT consulting firm Nuvalence

EY US has completed the acquisition of Nuvalence, an IT consulting firm headquartered in Troy, NY.

Established in 2018, Nuvalence boasts a workforce of over 140 professionals, including engineers, product managers, and architects spanning the US, Canada, and Colombia. The company specializes in technology advisory, modernization, digital platforms and products, as well as data-driven platform development.

With this acquisition, EY aims to fortify its offerings in platform engineering, product development, and generative AI services.

Rakesh Malhotra, co-founder and managing partner of Nuvalence, remarked, "Nuvalence has consistently leveraged our profound technical acumen to tackle the most challenging issues encountered by our clients as they transition into platform and AI-centric enterprises. We are thrilled to perpetuate and expand upon this mission as part of EY."

#2. Callahan & Associates acquires CU Strategic Planning

Callahan & Associates, a research and consulting firm based in Washington, DC, specializing in credit unions, has recently acquired CU Strategic Planning, a provider of business planning services for credit unions located in Tacoma, WA.

Established in 2008, CU Strategic Planning offers a range of services including Community Development Financial Institutions (CDFI) certification, grant writing, and compliance. The firm has successfully secured and managed compliance for $945 million in US Treasury CDFI grants and related award funding for its credit union clients.

Jon Jeffreys, CEO of Callahan & Associates, expressed enthusiasm about the acquisition, stating, “The partnership with CU Strategic Planning aligns perfectly with our goals. I am excited about the potential impact we can create together within the industry. By merging our strengths, we are better positioned to support credit unions, foster growth, and drive positive change within the movement.”

#3. Delta Capita buys KYC and CLM solution Client On-Boarding

Delta Capita has bolstered its Know Your Customer (KYC) capabilities with the acquisition of Client On-Boarding from the London Stock Exchange Group (LSEG).

Client On-Boarding, previously known as GoldTier, offers a comprehensive KYC client lifecycle management solution tailored for banks and financial institutions, facilitating their compliance processes.

In this agreement, Delta Capita has taken over both the Client On-Boarding technology and its diverse client base. This includes financial institutions spanning the UK, Europe, North America, Singapore, Hong Kong, and Australia.

Joe Channer, CEO of Delta Capita, emphasized the significance of this acquisition, stating, "This move solidifies our position in KYC client lifecycle management and establishes us as a leading service provider in the sector. It enables us to deliver top-tier technology to assist our clients in meeting their KYC and CLM compliance obligations effectively."

Closing Thoughts

That’s it from us for this week’s consulting M&A news from around the globe. I really hope you enjoyed this read. And if I’ve missed out on any deals, please write to me and make it known. Take care, and I’ll see you all again next week!