KPMG to Provide Broader Global Outsourcing Advisory Services Through Acquisition of EquaTerraBy Kpmg Llp, PRNE
Monday, February 21, 2011
Acquisition Reflects KPMG Growth Strategy to Identify Service Opportunities for High Demand Market Sectors
NEW YORK and LONDON, February 22, 2011 - KPMG LLP (US), KPMG Holdings Limited (UK) and KPMG International today
announced the closing of an agreement to acquire the business of advisory
firm EquaTerra. The acquisition creates one of the broadest global sourcing
and shared services advisory offerings across the Americas, Europe and Asia
Combining KPMG's practice and EquaTerra, two of the world's top-ranked
global sourcing organizations, the transaction is consistent with the KPMG
network's growth strategy, focusing on organic and inorganic opportunities in
select high-demand market sectors. Terms were not disclosed.
As organizations transform their operations to compete in today's complex
business environment, EquaTerra's highly experienced professionals, combined
with the KPMG network's deep market presence and objective shared services
and outsourcing advisory team, will provide clients with a full life-cycle of
capabilities - from strategy through to optimization - for companies seeking
to reduce costs and improve effectiveness and efficiency.
"EquaTerra is an ideal fit for KPMG and we look forward to welcoming the
EquaTerra team to the KPMG network family," said Timothy P. Flynn, Chairman,
KPMG International. "Through this acquisition, clients of KPMG member firms
will benefit from the addition of a market-leading sourcing adviser to help
them transform their organizations into more flexible enterprises in a way
that meets today's complex market demands."
Mark Toon, former Chief Executive Officer of EquaTerra and current KPMG
LLP principal, said that the deal adds value for clients of both
organizations. "Joining a network with KPMG's capabilities and global scope
provides great opportunities for our employees and clients," Toon said.
"KPMG's extensive sourcing experience, its Big Four market presence and its
reputation for relentless execution is an ideal complement for EquaTerra's
business transformation capabilities and highly respected reputation in the
shared services and sourcing advisory sector."
John Veihmeyer, KPMG LLP (U.S.) Chairman and CEO, noted that the
acquisition helps address changing client needs as the outsourcing services
market continues to evolve. "EquaTerra's tools and capabilities speak
directly to clients' desire to move beyond one-off outsourcing activities and
develop comprehensive sourcing strategies that deliver real value across
their organizations," Veihmeyer said. "This is part of our strategy of
building large-scale transformation capabilities to help organizations as
they address the realities of a new global marketplace."
The name "EquaTerra" means "level ground," which aligns well with KPMG's
philosophy of providing an objective sourcing and shared services advisory
approach. This is also consistent with KPMG's focus on bringing clients and
service providers together in a collaborative environment to create
innovative delivery models and provide sustainable value to the business.
John Griffith-Jones, Co-Chairman, KPMG Europe LLP, said the acquisition
will allow KPMG member firms to help clients manage large scale, cross-border
transformation efforts. "KPMG member firms provide a full suite of services
for enterprise executives seeking to optimize their organization. The
acquisition of EquaTerra complements these existing capabilities and deepens
KPMG member firms' shared services and sourcing expertise, Intellectual
Property and services."
"The company is also led by a management group with extensive sourcing
industry experience supported by a deep bench of global leadership talent.
These are invaluable attributes crucial to succeeding in this competitive
market segment," added Griffith-Jones.
EquaTerra is ranked No. 2 on the International Association of Outsourcing
Professionals' recent 2010 list of the World's Best Outsourcing Advisers. It
serves clients throughout the Americas, Europe, Middle East, Africa and Asia
Pacific, providing deep functional knowledge in Finance and Accounting, HR,
IT, Procurement and other critical business processes.
This broad geographic and industry-specific footprint will enhance the
ability of KPMG professionals to help companies transform their service
delivery models and address change management issues, centralize and optimize
capabilities, outsource functions, and create a sustainable governance and
performance management model.
EquaTerra sourcing advisers help clients achieve sustainable value in
their IT and business processes. Their advisors average more than 20 years of
industry experience and have supported more than 2,000 transformation and
outsourcing projects across more than 60 countries.
KPMG is a global network of professional firms providing Audit, Tax and
Advisory services. We operate in 150 countries and have 138,000 people
working in member firms around the world. The independent member firms of the
KPMG network are affiliated with KPMG International Cooperative ("KPMG
International"), a Swiss entity. Each KPMG firm is a legally distinct and
separate entity and describes itself as such.
Contact: Dan Ginsburg, KPMG LLP (US) +1-201-307-8270 firstname.lastname@example.org Gavin Houlgate, KPMG LLP (Europe) +44-20-76943902 email@example.com
Dan Ginsburg, KPMG LLP (US), +1-201-307-8270, dginsburg at kpmg.com; or Gavin Houlgate, KPMG LLP (Europe), +44-20-76943902, gavin.houlgate at kpmg.co.uk
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