Ernst & Young (EY) Canada acquired Gensquared, a Microsoft and MicroStrategy technology consulting partner with big data, analytics and artificial intelligence (AI) expertise. The financial terms of the deal were not disclosed.
This is the technology M&A deal number 370 covered by ChannelE2E so far in 2022.
Data Team as a Service strategy to help customers organize, structure, and deliver trusted data. the number of people will triple to 45 employees by mid -2021 from 15 employees in early 2020.
Big Data and IT Consulting: M&A Perspectives
In a prepared statement about the deal, Linda Williams, managing partner for consulting at EY Canada, said:
“Effective data management can provide better compliance and provide insights that facilitate strategic business decisions that foster innovation and growth. But as technologies evolve rapidly, regulations are rising and becoming more hard to find skilled talent, many organizations struggle to keep up and transform data into important business insights.Together, with Gensquared, we will help companies bridge the loopholes and modernize those. ability to help them discover new value and reach impactful results. ”
Alex Mohelsky, data, analytics and head of AI at EY Canada added:
“Data and analytics are needed to successfully drive everything digital. By combining our proprietary technologies and Gensquared’s global reach with business expertise and technical capabilities, we will provide the insights and solutions our clients need to become more agile, innovative and better equipment to respond to disruptive change. “
Patrick Siconolfi, co-founder and CEO of Gensquared, noted:
“We are very excited to join forces at EY in our quest to be the leading provider of data and analytics in Canada.”
Phil Chen, co-founder and COO of Gensquared concluded:
“It is very important to find an organization with a culture, purpose, and leadership team close to us. We know that, together with EY, we will continue our mission to redefine how businesses organize, generate, and remove data in innovative ways that deliver new value for all stakeholders. ”
Ernst & Young (EY): M&A activity
EY continues to acquire IT consulting firms with expertise in application, cybersecurity and managed services, as well as expertise in digital and customer experience.
Other recent EY acquisitions include:
You can find a full list of all EY mergers and acquisitions activity monitored by ChannelE2E here.