Forrester acquires SiriusDecisions with plans for APAC expansion

05 December 2018 Consultancy.asia

Market research leader Forrester has picked up fellow US-based research firm SiriusDecisions in a deal worth $245 million.

International market research and advisory firm Forrester, which provides in-depth analysis of firms within the consulting sector among others, has acquired research and marketing consultancy SiriusDecisions for $245 million in cash. Among the motivations for Forrester was the opportunity for accelerated international growth, with expanded distribution channels in the APAC and EMEA markets.

In a joint press statement, the firms said the combination of Forrester and SiriusDecisions will ‘create an innovative strategy and operations platform that can help business and technology leaders make the far-reaching changes needed to adapt to a customer-led, disruption-rich market’, with the purchase expected to bring in an additional $100 million in revenues for Forrester – which last year stood at nearly $340 million, up 3 percent on 2016.

“Today’s announcement was driven by our clients,” said Forrester Chairman and CEO George F. Colony. “Empowered customers and the disruptive power of technology are forcing business and technology leaders to take decisive action and make deep-rooted changes while delivering quarterly results. The combined value of Forrester’s strategic and SiriusDecisions’ operational capabilities will help our clients change and grow in tumultuous times.”Forrester acquires Sirius Decisions with eye on the APAC expansionFounded in 2001 by former Gartner executives and current managing directors John Neeson and Richard Eldh, SiriusDecisions has since then grown to a headcount of more than 150, with the US-based firm expanding its presence to include offices in London, San Francisco, Austin, Toronto and Singapore. “Allying with Forrester changes the game for our clients and accelerates our growth across industries, regions, and business functions,” commented Eldh.

Forrester, meanwhile, has ten international outlets across Europe and the Asia Pacific in addition to its US offices, including research centres based in Singapore and Beijing – with the firm conducting more than 675,000 annual surveys with consumers and business leaders worldwide.  As well as an expanded distribution network for its products, Forrester states that the purchase of SiriusDecisions will open up further opportunities for growth.

With SiriusDecisions focused on the marketing, sales and product segment of the business-to-business market, with plans now to expand its platform to the information technology and customer experience domains, Forrester notes the greater possibilities for cross-selling and broader access to research and advisory content and tools for clients, as well as aiding the push into new vertical markets such as financial services, retail, healthcare, and energy.

“Digitally-savvy customers are changing the rules of business, creating extraordinary opportunity for companies that adapt and existential threat to those that don’t,” concluded Colony, who has been at the helm of Forrester from more than 35 years since its founding in 1983. “The combined company creates a robust platform to help our clients not only navigate these rough waters but thrive in the age of the customer.”

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Deloitte and KPMG make risk and insolvency acquisitions in Australia

15 March 2019 Consultancy.asia

Two of the Big Four have made purchases in Australia, with Deloitte acquiring Sydney-based risk consultants Converging Data Australia, and KPMG picking up insolvency outfit Ferrier Hodgson.

Global professional services leader Deloitte has boosted its cyber analytics capabilities through the acquisition of boutique Sydney-based risk consultancy Converging Data Australia, with the company’s co-founder and team to join Deloitte’s Risk Advisory practice. Not to be outshone, Big Four rival KPMG has made its own purchase, set to merge with leading Australian insolvency firm Ferrier Hodgson.

A leading partner in the Asia Pacific for the Splunk platform, which collects and analyses high volumes of machine-generated data for cyber security and monitoring, Converging Data Australia was founded by former UK NHS employees Stuart Hirst and Neil Murphy, and serves public and private sector clients in the financial services, healthcare and supply-chain industries across Australia, New Zealand, Malaysia and the Philippines.

“Working in the areas of security, operational intelligence, and data analytics, as well as digital and IoT innovation, the Converging Data team will bring its deep domain expertise to help our clients keep pace with the continually evolving technology risk landscape,” said Deloitte’s Managing Partner for Risk Advisory, Dennis Krallis. “They will enhance and complement our existing investments in the design, build and running of bespoke Cyber Security Intelligence Operations Centres for clients.”

While Murphy continues to oversee the EMEA business of Converging Data, his co-founder Hirst has joined Deloitte as a partner in the firm’s Risk Advisory practice. “We developed our DataPaaS solution to help clients rapidly scale and optimise Splunk tools and are looking forward to combining it with Deloitte’s global team of more than 300 Splunk professionals to help more Australian businesses benefit from the insights and benefits Splunk software can bring,” Hirst said of the sale.Deloitte and KPMG make risk and insolvency acquisitions in Australia Meanwhile, fellow Big Four firm KPMG has made finalised a merger deal with Australian insolvency firm Ferrier Hodgson – with KPMG’s WA Chairman and national Restructuring Services leader Matthew Woods having reportedly informed staff of the acquisition alongside Ferrier Hodgson managing partner James Stewart. According to earlier coverage, the deal comes after months of haggling and negotiation, although no sums have been revealed.

Founded more than 40 years ago in 1976, the Sydney-headquartered Ferrier Hodgson has grown to become one of the largest specialist corporate turnaround and insolvency management firms in the Asia Pacific, with eight offices across Australia, Malaysia and Singapore and a headcount in excess of 300. As per the deal, KPMG has acquired Ferrier Hodgson’s Sydney, Melbourne, Brisbane and Perth branches, with discussions with its Adelaide arm said to be well advanced.

It is still unclear how many of Ferrier Hodgson specialists will join KPMG, but the newly combined insolvency and turnaround team – to be co-led by Stewart and Woods – will feature a staff of 200-plus including 20 Ferrier Hodgson partners and 27 in total – creating one of the largest and most experienced such practices in Australia. According to the firm’s, the deal is expected to completed in June, with a dual integration committee already in place.

“We are excited about the opportunity to merge with KPMG,” said Stewart, who has been with Ferrier Hodgson for more than 30 years. “Strategically, the merger gives our team immediate access to a diverse range of skill-sets to better engineer operational turnaround and add a lot more value to clients. We believe our clients will benefit from the greater breadth of solutions available to them, and our shared values and cultural fit will ensure a smooth integration into KPMG for our people.”

“The Ferrier Hodgson team is very experienced, with a great reputation, and we are delighted to be welcoming them to the firm,” KPMG Australia’s CEO Gary Wingrove said in response. “The rationale for a merger was compelling, with KPMG and Ferrier Hodgson a great fit strategically and culturally. The combination of our operations with Ferrier Hodgson will immediately and significantly strengthen the breadth and level of service we can offer our clients in the restructuring and forensic advisory sphere.”

Related: EY acquires Australian SAP consultancy Plaut IT and Malaysian subsidiary