PMsquare and Cornerstone Performance Management, both Asia-based IT consulting firms, have merged. The Australian operations of the two consultancies will, going forward, operate under the Cornerstone brand, while the wider Asian operations will retain PMsquare’s branding.
Both PMsquare and Cornerstone Performance Management focus on the IT consulting segment of the consulting industry. PMsquare was established in Sydney in 2008 and expanded to Singapore in 2011 and the Philippines in 2014. The firm specialises in Corporate Performance Management (CPM) and Business Analytics solutions, providing expert advice around the entire implementation process from license reselling, scoping and design to implementation (project management, training, post go-live support). Cornerstone Performance Management was founded in 2007 and has since grown into one of Australia’s largest performance management consulting businesses. The IBM Premier Business Partner provides management and systems consulting services, including data warehousing, reporting, predictive analytics, budgeting and forecasting to over 100 organisations in Australia, including the likes of Nissan and Hellmann Worldwide Logistics.
The merger creates one of the larger dedicated players in the Asia-Pacific market with a focus on the analytics space. In line with the firm’s heritage and track record, the partner team has decided to pursue a dual branding strategy. As the primary geographical focus of PMsquare lies in Singapore and the Philippines, whereas Cornerstone has traditionally been focused on the Australian market, PMSquare’s Australian operations will be absorbed into Cornerstone Australia, whilst the Asian region will operate under the PMsquare brand.
The merged entity will be headed by Piers Wilson and Hamish Dwight, both with a background at Cornerstone, while Carsten Brandt and Jason Rankin from PMsquare have been charged with implementing what the firm calls an “ambitious growth strategy” in Asia. In a statement the partners highlight that the merger was a logical step for both parties, pointing at the synergies in service offerings (“both organisations focus on the Business Analytics solution set”), the complementary nature of their client portfolios (“we deliver solutions to different industry segments and regions”) and scale (“the move dramatically increases our footprint in the region”).
Commenting on the deal, Wilson says he is “extremely pleased” to be joining forces with PMsquare, adding “They have a talented team and combining with them allows us to continue our growth in Australia as well as embark on a more aggressive growth strategy in Asia.”