Deloitte Technology Consulting continues to aggressively chase growth with the acquisition of two technology companies.
Deloitte has acquired Quattro and NXG, which specialise in customer relations management software and SAP solutions respectively.
This is the third acquisition Deloitte has made within the span of a month. Its subsidiary, Deloitte Digital, acquired Brisbane-based Digicon in late September.
Managing partner Adam Powick told CRN the acquisitions highlight the important role of technology in offering strategic consulting.
"Our clients are looking for more than strategic advice in finance. We're really strengthening our ability to implement technology solutions in a very specific way. Digicon was in content management and these next two are based on specific functions. They will enable us to be the leaders in SAP and financial management solutions."
Powick said the acquisitions were part of a strategic play intended to accelerate Deloitte's growth.
"In both cases they're both growth plays. We're looking to double the size of the teams in the next 18 months."
"It's not about bringing them in to just enhance their capability but to leverage their capability and enable our platform to grow."
The acquisitions add 50 additional staff to Deloitte's headcount, all of which will be retained.
The company's growth spurt isn't over yet, Powick claims, with the company considering a fourth acquisition.
"There will be other acquisitions, at least one in the technology domain that we will announce before Christmas."
Deloitte declared annual revenues of $1.1 billion for the year ending 31 May 2013, down by 0.9 per cent on its record 18 percent growth the previous year before.
The acquisition targets
Both of the newly acquired companies are based in Australia.
Quattro, based in Sydney, is a Salesforce.com implementation provider that employs 20. Powick said the company's staff would join Deloitte's Sydney office and that the acquisition will help strengthen Deloitte's cloud services.
"This transaction extends our cloud based technology capability and gives us the opportunity to become one of the leading providers nationally across the Salesforce.com and Google platforms," Powick said.
"It will enable us to take a more compelling end to end customer offering to the market by guiding our clients through the most effective implementation of these new technologies."
The second acquisition, NXG Business Solutions, is a SAP enterprise performance management partner with 30 staff across offices in Sydney, Melbourne and Brisbane. Its staff will also move into Deloitte's east coast offices.
Powick claims Deloitte's acquisition of NXG will have two-fold benefits for the company.
"This transaction enables us to accomplish two things. The first is to strengthen our ability to service the complete needs of our clients' CFOs and finance functions by building the leading financial budgeting, planning and forecasting solution practice in Australia.
"The second is to support our commitment to be a leading player in the design and implementation of next generation Enterprise Resource Planning solutions, which are user centred, data rich, and which address the high priority needs of our private sector and government clients."
Powick would not disclose the financial terms of the acquisitions. Deloitte plans on finalising both acquisitions by 1 November.