Ernst & Young, Australia (EY Australia) acquired Axiom Forensics as part of a deeper push into vertical legal services. The financial terms of the deal were not disclosed.
This is the technology M&A deal number 460 covered by ChannelE2E so far in 2022.
Axiom Forensics offers independent forensic accounting, valuation and dispute consulting services-supported by specialized data analytics capabilities. The company, based in Sydney, Australia, has 12 employees listed on LinkedIn.
The acquisition puts EY Australia to better serve clients, specifically legal firms by providing expert witnesses, consulting, valuation, data and analytic services, the consumer said.
Executive Perspectives
Describing the acquisition, Rob Locke, head of EY Oceania Forensic & Integrity Services, said:
“We are experiencing unprecedented growth and our offering of Disputes plays an important role. The opportunity to significantly enhance our footprint in Sydney by getting a successful company into disputes has become strategic meaning. We have known and examined Axiom Forensics for many years and have been great, even disgusted by fans of their work. In our opinion, they are the best in Sydney at what they do so the decision to ask them to join EY was an obvious decision. Their vision and growth plans are fully in line with ours and they will be a big part of this continued growth.
Axiom Forensics has good relationships with major law firms, specifically in Sydney and this will benefit our clients as well as EY. For Axiom Forensics, the strength of the EY brand and the access to the resources, skills and talent we have around the world, will allow them to take their services to the next level.
The addition of the Axiom Forensics team to strengthen our practice in Sydney, along with other significant hiring and promotions over the last 12 months, means we are the leading provider of dispute and claims services in Australia. “
Michael Potter of Axiom Forensics added:
“Over the years we have encountered several instances where we have had to rely on external experts to assist with our interactions. By joining forces with EY, we will be able to augment our current skills in industry expertise and other in = house skills, such as economics and statistics. This is a great next step for us – I look forward to being part of a big team where we can bounce ideas around and hear different perspectives. Our people – many of whom we have been with for over 10 years are excited for opportunities to join EY in terms of training and development and exposure to new skills and clients.
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.
Examples of EY acquisition in 2022 include:
You can find a full list of all EY mergers and acquisitions activity monitored by ChannelE2E here.