KPMG announces offer to acquire Crimsonwing
KPMG has, today, made an offer to acquire Crimsonwing, an international IT company focusing on Microsoft Dynamics and e-Commerce business solutions. KPMG’s offer values Crimsonwing at €26 million.
If successful, the acquired business will become known as KPMG Crimsonwing and will be jointly owned by KPMG’s firms in the UK, Netherlands and Malta. Crimsonwing’s Founder, David Walsh, will be chief executive of KPMG Crimsonwing which will combine KPMG’s current Microsoft Dynamics teams in the UK and Netherlands with Crimsonwing to create an overall team of approximately 350 people. The combined entity has a goal of more than doubling in size over three years.
Founded in 1996, Crimsonwing is an award-winning consultancy providing industry-specific business, mobile and cloud solutions for international clients related to Microsoft Dynamics and e-Commerce. Crimsonwing has developed market leading software incorporating their own intellectual property for industries such as print management and property lease management and for membership organisations.
The proposed acquisition is consistent with the firm’s strategy of building an Advisory practice which combines business expertise with the underlying technology capabilities required to implement business solutions. If successful, it will follow the acquisition of Safira, a provider of Business Process Management solutions, and Cynergy Systems, a Digital and Mobile specialist.
Tonio Zarb, senior partner of KPMG in Malta, says: “Today’s announcement represents a significant step in the growth of our Advisory practice. The deal will make KPMG the largest professional services employer on the island. It will help us to employ even more people in Malta and provides us with access to European-based clients. Combining Crimsonwing with our own Dynamics consulting team will strengthen and cement KPMG’s position as a leading business partner of Microsoft.
“The new venture provides an exciting opportunity for clients and staff alike and a real springboard for growth. The combination of KPMG Crimsonwing’s high quality technology expertise with KPMG’s broader business skills will make us our clients’ partner of choice when it comes to delivering business transformation enabled by Microsoft technologies.”
David Walsh, Founder, and continuing CEO of Crimsonwing, adds: “This deal helps us to meet our clients’ growing demands for broader business skills and for international reach to support multi-country implementations. With KPMG’s support and its global platform, we will be in a better position to support our clients to transform their businesses and ensure they get the full benefit from their investments in new technology and information systems.”
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