Deloitte has acquired The Working Group (TWG), a digital and cloud consulting firm focused on mid-market and large clients. Financial terms of the deal were not disclosed.
This is M&A deal number 126 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
TWG, founded in Toronto in 2002, focuses on digital strategy, application development, platform services, product growth & analytics, e-commerce and retail.
TWG’s 150 employees will tuck into Deloitte Canada’s Consulting practice in Toronto, under the Customer Strategy and Applied Design offering. Also joining the firm as new partners, are TWG Executive Chair Andrés Aquino and TWC CEO Chris Eben.
In the M&A announcement, TWG also reinforced its ongoing commitment to diversity and inclusion. The company stated: "With a clear focus on improving gender parity, increasing ethnic diversity and the representation of women in management and leadership teams, and training on equity, diversity, and inclusion, TWG is committed to transforming the status quo."
Deloitte Acquires TWG: Executive Perspectives
In a prepared statement, Deloitte Canada CEO Anthony Viel said:
“We’re excited to welcome TWG into the fold, not only because of their recognized brand and seasoned leaders - but also their strong reputation combined with their focus on the mid-market and large clients – as well as their commitment to diversity and inclusion. This addition is a key differentiator for our firm, and a major win for our clients who will truly benefit from enhanced product and data capabilities. Likewise, TWG’s culture of problem solving and creating mutual value fits seamlessly into Deloitte’s client-centric approach, and together, we will help our clients transform at scale.”
Sébastien Blais, managing partner, Consulting at Deloitte Canada:
“This is a big step forward in how we plan to help guide our clients on their digital and cloud transformation journeys. Especially given the fact that the COVID-19 pandemic has forever altered how we live and work, it’s now more important than ever for our clients to design and deliver compelling digital experiences, and TWG is going to help us achieve exactly that, as well as solidify Deloitte’s clear leadership as the number one Canadian firm in digital transformation.”
Bevin Arnason, Canadian Deloitte Digital Leader, noted:
“Our combined TWG and Deloitte Digital team offers incredible expertise and enthusiasm about the impact we can make together – for our people, our clients, our communities, and our country."
Concluded TWG CEO Chris Eben:
“We are eager to be joining Deloitte Digital, knowing how much the firm values craft excellence and talent development. By combining our efforts with Deloitte’s broad network, and positioning the firm as the number one digital consultancy in the country, we’re more prepared than ever to deliver digital products and data platforms across a variety of industries and clients.”
Deloitte’s M&A Activity
Deloitte is a massive company and has been fairly active on the M&A front. While the company is largely known for its audit, consulting, advisory and tax services offerings, Deloitte also has a strong foothold in the worldwide IT service provider (ITSP) market.
Deloitte, through its various regional divisions, has made a number of M&A deals involving cloud, AI (artificial intelligence), cybersecurity, workforce digitalization and analytics services.
A full list of the Deloitte deals that ChannelE2E has covered can be found here.
