KPMG will acquire the business of advisory firm EquaTerra, creating one of the broadest global sourcing and shared services advisory offerings across the Americas, Europe and Asia Pacific.
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 is an ideal fit for KPMG and we look forward to welcoming the EquaTerra team to the KPMG network family,” says 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 organisations 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. The acquisition will also allow KPMG member firms to help clients manage large scale, cross-border transformation efforts.
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