Deloitte today announced the acquisition of Presence of IT, a 20-year-old leading Human Capital Management business. Terms of the transaction were not disclosed.
The deal will see 300 Australian Presence of IT employees join Deloitte in what the consulting giant says is its largest consulting transaction ever in Australia.
A further 300 staff will join other Deloitte offices across APAC and the United States creating what Deloitte says is “the largest and most capable human capital and HR transformation team across Australia and the Asia Pacific region”.
Presence of IT’s two co-founders, David Brookes and Shaun Flannery, along with their co-CEO Shane Grobler, will join Deloitte’s Human Capital leadership team as partners in Australia.
Both companies had been competing and partnering in the Human Capital Management (HCM) market, and Deloitte already employees over 440 people in the area. Presence of IT, however, focused more on cloud technology, advising clients on SAP, Oracle, PeopleSoft and Kronos transformation projects.
Presence of IT co-founder and CEO, Dave Brookes, said, “The future of work is all about how people feel, defined by the experiences they have when interacting with business and with customers. It is this joint passion for creating unrivalled talent experiences for our clients globally that positions us as the new undisputed leaders across the Human Capital marketplace.
“Together, we generate end-to-end value with an extended global reach for our clients that is unlike anything in the market today.”
Deloitte Australia CEO, Richard Deutsch said the deal created a new opportunity for Deloitte, particularly in Australia.
“Joining forces with the team from Presence of IT makes us the undisputed leaders in Human Capital Consulting, enhancing our ability to provide our clients with unrivalled value, scale and world-class expertise; in turn giving them peace of mind that their people strategy is in safe hands. Together, we will be able to take advantage of significant market opportunity.”