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News in brief - the best of the Holiday news

That Was The Week That Was
Stuart Jackson
Francisco D'Souza, Cognizant CEO

Manchester: Happy New Year. And what else happened last week? A round-up of the best of the Holiday news in brief.

Hitachi Consulting buys Celerant

Hitachi Consulting has acquired Celerant Consulting, the business operations consulting firm. The move greatly expands Hitachi Consulting's global presence.

Celerant has offices throughout the Americas, Europe and the Middle East, and a global client base that spans over 57 countries, and it claims deep expertise in the chemical, consumer, energy, industrial, life sciences, metals and mining sectors.

"We are very pleased to have Celerant Consulting as a part of the Hitachi Group. As Hitachi's largest in-house company, Hitachi Information & Telecommunication Systems Company ("ITSC") is targeting to grow revenue from the consulting business to 130 billion yen ($1.5 billion) by fiscal 2015. Under Hitachi's Social Innovation business initiative and global growth strategies, we expect sales of 800 billion yen ($9.6 billion) from overseas markets by fiscal 2015; 35% of consolidated ITSC revenues. We believe the acquisition of Celerant Consulting is key to accelerating achievement of these KPIs, and provides Hitachi with the ability to offer our customers deeper knowledge and expertise in Social Infrastructure fields including energy, mining, and various industrial sectors," said Shinjiro Iwata, Senior Vice President and Executive Officer, President CEO of Information & Telecommunication Systems Company of Hitachi, Ltd.

Terms of the acquisition were not disclosed.

Jackson is L.E.K.'s new managing partner

L.E.K. Consulting has elected Stuart Jackson as Global Managing Partner, with immediate effect. He will the firm's global operations and strategy. L.E.K. Founder Iain Evans will continue in his role as L.E.K. Chairman.

Jackson began his career at L.E.K. in London nearly 30 years ago and has spent the majority of his time at L.E.K. in the U.S., where he has held various U.S. and global leadership roles, including President of L.E.K. North America and head of L.E.K.'s Chicago office. He will continue to be based in L.E.K.'s Chicago office.

L.E.K. also announced today that Peter McKelvey will succeed Jackson as President of L.E.K. North America and will lead the firm's U.S. Regional Management Committee, joining John Goddard and Simon Barrett, who hold equivalent roles in Europe and Asia respectively, and complete the leadership of L.E.K.'s three major geographic regions.

Congnizant strengthens German base

Cognizant has a definitive agreement to acquire six companies of the C1 Group, an independent consulting and IT services firm based in Hamburg. The terms of the transaction were not disclosed.

The C1 companies focus on three industry segments: manufacturing and logistics, energy and utilities, and financial services, and they bring deep expertise in enterprise application services (specifically SAP), and high-end testing services that range from test consulting, strategy and design, to implementation.

Under the terms of the agreement, about 500 professionals across locations in Germany and Switzerland will join Cognizant.

"We look forward to welcoming C1's talented professionals to Cognizant," said Francisco D'Souza, Chief Executive Officer of Cognizant. "This strategic acquisition underscores our commitment to the German and the larger European markets, and reinforces our position as one of the top consulting and IT services companies across the region. With this acquisition, Cognizant is even better positioned to help European clients achieve agility and competitive advantage by embracing a broad range of services. The client-first culture of the C1 team, driven by extensive local business insights, strong relationships and entrepreneurial passion, makes it an excellent strategic fit for Cognizant."

Accenture in GE venture

Accenture and GE's GE Aviation unit have completed the formation of a joint venture company called Taleris.

Taleris will provide airlines and cargo carriers around the world intelligent operations services focused on improving efficiency by leveraging aircraft performance data, prognostics, recovery and planning optimization solutions that will include assets and capabilities from both Accenture and GE.

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