KPMG acquires Dynamics-specialist Crimsonwing for €26 million
Update 4 February 2015 - The shareholders of Crimsonwing have accepted the bid from KPMG, which makes KPMG the largest Microsoft Dynamics specialist of the Big Four accounting and consulting giants. As part of the transaction the new entity KPMG Crimsonwing is formed, a joint venture between the KPMG organisations of the UK, the Netherlands and Malta.
28 November 2014 – KPMG plans to acquire IT consulting firm Crimsonwing, a specialist in the field of Microsoft Dynamics. If the shareholders accept the €26 million (roughly £20 million) bid, KPMG will launch a new venture – KPMG Crimsonwing – which will consist of nearly 350 employees in the UK, Netherlands and Malta.
Crimsonwing, established in 1996, specialises in the automation of business processes making use of Microsoft Dynamics. The firm in addition provides eCommerce services, based on software from Magento and Intershop. In 2007 Crimsonwing gained the Microsoft Gold Partner status, and significantly boosted its market position through the acquisition of two industry counterparts. The stock listed company has offices in London, Hilversum and Valkenswaard (Netherlands) and Marsa (Malta).
“Today’s announcement represents a significant step in the growth of our Advisory practice. The deal will help us build both onshore and Maltese near-shore capabilities, making us more accessible to European-based clients. Combining Crimsonwing with our own Dynamics consulting team will strengthen and cement KPMG’s position as a leading business partner of Microsoft,” says Richard Fleming, head of KPMG Advisory in the UK.
If the shareholders of Crimsonwing accept the bid, the acquired business will become known as KPMG Crimsonwing and will be jointly owned by KPMG’s firms in the UK, Netherlands and Malta. Crimsonwing’s Founder, David Walsh, will be chief executive of KPMG Crimsonwing which will combine KPMG’s current Microsoft Dynamics teams in the UK and Netherlands with Crimsonwing to create an overall team of approximately 350 people.
The combined entity will according to KPMG have a goal of more than doubling in size over three years.
