NEW YORK and CINCINNATI, June 23, 2014 (GLOBE NEWSWIRE) -- KPMG LLP, the U.S. audit, tax and advisory firm, has acquired Zanett Commercial Solutions ("Zanett"), a leading business and technology consulting firm. This transaction broadens the depth of KPMG's technology-enablement solutions that help clients improve performance, maximize revenue and manage risk as they transform their business.
"Across the marketplace, our clients are looking to enhance their performance with enterprise technology, gain deeper insights from their data and improve engagement with key stakeholders," said John B. Veihmeyer, Global Chairman of KPMG and Chairman and Chief Executive Officer of KPMG in the U.S. "The acquisition of Zanett furthers our mission to be the market leader in serving as a strategic advisor for clients looking to drive sustainable value across their enterprise."
Zanett's experienced professionals provide innovative technology solutions with a business-first approach that enables clients to achieve their business strategy with existing and emerging technologies. This acquisition enhances KPMG's enterprise technology skills, often an anchor of business transformation solutions that also include operating model design, digital and mobile strategy, financial impact assessment, organizational design, change management, business intelligence and analytics, tax implications, regulatory readiness, privacy and security and risk management.
Founded in 1992, Zanett Commercial Solutions is headquartered in Cincinnati, with offices in Jacksonville, Fla., and Indianapolis. The company is an Oracle Platinum Partner with strong solutions across the Oracle platform, and deep experience in healthcare, state and local, manufacturing as well as other industries. This acquisition will allow KPMG to deliver leading healthcare technology solutions to enhance patient care and outcomes that accelerate the path to meaningful use of electronic health records.
Vince Vickers, president of Zanett Commercial Solutions, said his organization shares KPMG's philosophy of empowering organizations through technology. "We are confident that clients will benefit from our combined strengths when utilizing technology as a catalyst to make impactful change across their enterprise," he said. "Our clients face increased regulatory pressure and market dynamics that force them to rethink aspects of their business. Joining KPMG will add greater depth and enhanced solutions to our clients in the heavily regulated industries."
Technology-Enabled Business Transformation
"Technologies such as enterprise systems in tandem with cloud, data and analytics, and mobile are creating unique challenges yet driving widespread opportunities for growth and improved performance," said Lynne Doughtie, Vice Chair, Advisory, at KPMG. "As a key pillar of our growth strategy, acquisitions such as Zanett add depth and breadth to our services that help clients leverage technology as an enabler of business transformation."
The Zanett transaction is the third acquisition of an Oracle solutions provider since 2011 for KPMG. In October 2011, the firm acquired Optimum Solutions to help clients use technology to transform key operations, including Human Capital Management, finance and accounting, business intelligence and supply chain management. In March 2013, KPMGacquired the Oracle Enterprise Resource Planning (ERP) practice of The Hackett Group to expand the firm's ERP capabilities and Oracle consulting services.
In February 2014, KPMG acquired Cynergy Systems, Inc., to help businesses leverage digital and mobile technologies to enhance customer engagement and enterprise mobility. In December 2013, KPMG expanded its sophisticated data and analytics capabilities to help clients drive growth and increase customer loyalty through the use of big data with the acquisition of Link Analytics.
KPMG was recognized as a leader in Business Consulting Services (doc #239484, February 2013) in the International Data Corporation (IDC) MarketScape: Worldwide Business Consulting Services 2013 Vendor Analysis. It was also recognized by Forrester Research, Inc. as a leader in IT Organization Redesign in The Forrester Wave™: IT Organization Redesign Consultancies, Q4 2012 report and a global leader in advisory and consulting services related to business intelligence and analytics in The Forrester Wave™: Business Intelligence Service Providers, Q4 2012 report.
The transaction closed on Friday, June 20. Financial terms of the agreement will not be disclosed.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 155,000 professionals, including more than 8,600 partners, in 155 countries.
About KPMG International
KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 155 countries and have 155,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
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Source: KPMG LLP