Paris: EY, the re-branded professional services group Ernst & Young, has acquired boutique strategy firm Greenwich Consulting for an undisclosed sum.
EY says the move will consolidate its service range worldwide notably in growth strategy, marketing, digital and data-analysis. The 130 Greenwich Consulting staff — 80 of whom are located in France — will now be working with EY Advisory's teams to form a new "Strategy, Marketing and Innovation" platform. EY Advisory has 700 employees in France and 30 000 worldwide.
This acquisition is part of EY's global growth strategy, the firm says, aimed at developing consulting with a high added value.
Jean-Pierre Letartre, EY Chairman in France and EY CEO in in France, North Africa and Luxemburg, and Eric Mouchous, head of EY Advisory in France, North Africa and Luxemburg, are both enthusiastic about this acquisition.
"We're proud to be associated with one of the best French consulting success stories of the last 10 years. The combined operation will mean we are better equipped to meet our clients' expectations and able to offer some unique capabilities in innovation, market growth and business transformation," they said in a statement.
David Naim, Greenwich Consulting CEO, comments, "We're very happy to become part of one of consulting's world leaders, and one that has maintained a very strong entrepreneurial culture. This move derives from our shared corporate ambition: to accelerate our clients' growth, especially through judicious exploitation of data and digital tools, whilst being able to rely on EY's incredible pool of expertise and international network."
Greenwich Consulting was formed 12 years ago and turned over 25 million Euro in 2012.
This new acquisition will further strengthen EY Advisory's position, it believes, not only in France but also worldwide as a major player in providing performance improvement, risk consulting and business transformation services.