Committed to enhancing innovation, capabilities, and integration
Acquisitions can be an excellent way for an organization to add new competencies, grow market share, and diversify risk. Making smart acquisitions is not just something on which member firms advise their clients; it's advice Deloitte takes to heart.
Deloitte made nearly 30 acquisitions in key capability areas and geographies across the network during FY2013, significantly augmenting member firm client service offerings and global delivery. Key acquisitions included:
- Bersin & Associates, LLC (Consulting)
- IE Discovery (Financial Advisory)
- Monitor Group (Consulting)
- Raupach & Wollert-Elmendorff (Tax & Legal)
- Recombinant Data Corp. (Analytics)
- Vigilant (Enterprise Risk Services)
- Vivens (Consulting)
Perhaps our most notable purchase was of substantially all of the business of Monitor, one of the world's leading strategy consulting firms, including Doblin, its innovation practice. Operating under the Monitor Deloitte brand, the marriage of Monitor's talent and assets with Deloitte's consulting service offerings redefines the industry. Monitor brings offerings in innovation, strategy, marketing and sales, pricing, leadership and organization, and economic competitiveness, all of which complement Deloitte's existing world-class consultancy.
"Together we have created a dynamic new practice with distinctive capabilities. We are deeply committed to helping clients create new value and achieve transformational growth through actionable insights, analysis, and leading-edge methods. We are now well positioned to serve clients from strategy all the way through to execution," says Bansi Nagji, Global Co-Leader of Monitor Deloitte, Deloitte Consulting LLP (Deloitte U.S.), and former President of Monitor.
More than 860 Monitor professionals joined the Deloitte global network in January 2013. Based in more than 20 member firms in 14 countries, Monitor practitioners increased Deloitte's Strategy consulting presence in priority markets such as Brazil, China, Middle East, France, Germany, and India.
"The demands posed by increased globalization, the search for new sources of growth, and the opportunities created by business model innovation mean clients' needs for help are increasing," says John Kerr, Deloitte Global Consulting Leader. "With leading practices in life sciences, marketing strategy, and innovation strategy and execution, Monitor Deloitte is well-positioned to help clients tackle their most complex business challenges."
The combined practice is working, collectively, to help clients make bold, well-informed choices, take timely actions, and move decisively from strategy to execution. For example, the relationship with a global diversified industrial company, focused on creating and enhancing clean, safe, and efficient environments, is a good example of how Monitor Deloitte is creating synergies to benefit clients.
Prior to 2013, Deloitte had engagements with this client in the areas of technology and finance, while Monitor had worked with the client's executive leadership team—including the CEO and CTO—on business strategy and growth initiatives. By joining forces, Monitor Deloitte is able to provide a more holistic service approach. Already, Monitor Deloitte is supporting the client with a business unit spinoff; has begun implementation of a growth program focused on redesigning the product management role and activities; and started a refresh of the client's enterprise business strategy and multiyear implementation plan.
"Deloitte had a very successful year in terms of acquisitions. We completed a number of scale deals to benefit the global network and expect to continue this momentum in FY2014, as acquisitions remain a key strategic priority for individual member firms and the network as a whole," said Ainar Aijala, Deloitte Global Chief Corporate Development Officer.