Deloitte is acquiring the business and assets of Keytree, an SAP-focused technology consultancy headquartered in the UK. Terms of the deal were not released.
This is M&A deal 325 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
The acquisition makes Deloitte's SAP practice one of the largest SAP-enabled digital transformation organizations in the UK, according to the company.
Founded in 2006 in London’s Covent Garden, Keytree has approximately 400 employees. The company specializes in cloud and robotic technologies, data analytics, alongside a host of managed services.
Keytree’s staff will tuck into Deloitte’s consulting practice, the company said.
Deloitte’s reputation is built around its audit, consulting, advisory, and tax services offerings. But the company also ranks among the world’s Top 200 MSSPs, and Top 200 Public Cloud MSPs.
The company has acquired multiple IT consulting firms, many of which specialize in Amazon Web Services (AWS), Salesforce cloud CRM deployments, and more.
Most recently, the company acquired Irish cloud consultancy and MSP, DNM, in June 2020. That same month, Deloitte announced the layoff of roughly 6,000 employees worldwide.
Deloitte Acquires Keytree: Executive Commentary
Explaining this deal, Keytree CEO Dan McNamara said:
“The skills, size, and scale of our team has grown quickly over the past 14 years. Combining our business and people with the brilliant team at Deloitte and fusing the firm’s rigorous technology and data expertise with our own will ensure that we are able to operate and innovate at an even larger global scale and be in the best position possible to support our clients when they need us most.”
Tim Kyle, managing director of Keytree, added:
“This is an exciting time for Keytree as we build on the success we have experienced over the last 14 years. Both companies share similar cultural and business values and by working together in the future, we will be in a position to deliver solutions for our customers that will overcome significant business challenges, drive digital innovation and continue our commitment to positively impact the communities in which we operate.”
Richard Houston, senior partner and chief executive of Deloitte UK, concluded:
“The UK has played host to many of the world’s most significant technology advancements, bringing huge benefits to the country’s economy and the skills of its workforce. We believe that beyond COVID-19, investment in technology will be a critical catalyst for the recovery of UK businesses. Being digitally-connected has never been more important. Organisations of every size need to find new ways to thrive post COVID-19 and digital transformation programmes will be right at the heart of this. Bringing together our scale and Keytree’s expertise and entrepreneurial spirit will help our clients to ensure these critical programmes support their long-term success. We’re looking forward to welcoming the Keytree team into our firm once the deal completes.”
Mergers and Acquisitions: SAP Partner Ecosystem
M&A within the SAP partner ecosystem has continued unabated throughout the last two years. The main buyers have included global systems integrators, consulting giants, and MSPs like Accenture, Capgemini, and more.
