BrazilABeam Consulting buys Asian data analytics consultancy LightStream
Leading Asian advisory ABeam Consulting has bolstered its data analytics capabilities with the purchase of LightStream Analytics.
The Singaporean arm of ABeam Consulting has picked up local big data firm LightStream Analytics, acquiring 70 percent of the firm’s shares with the remainder to be purchased by 2021. According to ABeam, the deal will strengthen both the firm’s data analytics service capacity throughout Southeast Asia as well as allowing for the integration of these services with its business consultancy offerings.
Established in its present form in Japan in 2003 after a departure from Deloitte (with a history dating back to 1981), Abeam has expanded to become one the leading Asian-grown consultancies, counting 5,000-plus staff-members across 26 offices in Asia, the Americas and Europe, including its most recent launch in Vietnam. On a mission to become the number one consulting firm from Asia, the firm has in recent times actively perused enhancements to its digital capacities, marked by its latest move in the domain.
“This agreement represents an upgrade of ABeam Consulting data analytics capabilities in Southeast Asia, which will enable us to provide more advanced consulting services to better meet our customers’ needs,” ABeam Consulting President Toshinori Iwasawa said of the purchase. “By integrating the profound knowledge, experience and expertise of LightStream, ABeam Consulting will be able to provide greater added value to our customers.”
Founded in Singapore in 2006, with an additional outlet in Indonesia, information technology consultancy LightStream specialises in advanced analytics and data management, combining deep technical expertise with performance management and business solutions for clients in Singapore, Southeast Asia and Greater China – such as those in the financial services, manufacturing, consumer goods, education and public sectors.
“Leveraging ABeam’s deep domain expertise, extensive international client base, and uncompromising reputation for excellence, LightStream Analytics will be able to accelerate our delivery of transformational advanced analytic solutions across Asia,” said LightStream Managing Director Chris Whitaker. “We are extremely excited to join the ABeam group and look forward to providing deeper, multifaceted business and technical solutions to clients through the combined talent of our professional consulting teams.”
Lightstream was advised on the sale side by Equiteq, one of the world’s foremost M&A advisors to the ‘knowledge intensive’ IT and professional services sectors – a segment which has experienced accelerated growth in recent years despite a recent drop in the regional number of deals. Led globally by David Jorgenson, who was appointed as CEO in 2016, Equiteq has offices in the UK, US, France, Australia and Singapore – with the latter branch advising IT Services firm Axentel Technologies on its sale to Park Place Technologies earlier this year.
On the latest deal, LightStream’s CEO said; “Equiteq was critical to the success of this transaction. From the initial preparation of the project through introductions to potential partners and during the final negotiations, Equiteq entirely managed the process and provided solid professional advisory. Very simply, if we didn’t engage with Equiteq, we would not have this deal. Navigating M&A isn’t our expertise. It’s theirs, and their team is intelligent, efficient, professional, and has proven indispensable.”
