Deloitte completes acquisition of Monitor’s global strategy consulting business
14 January 2013
Deloitte has acquired substantially all of the business of Monitor, one of the world’s leading strategy consulting firms. This transaction combines Monitor’s strong brand, thought leadership and exceptional talent with Deloitte’s extensive reach, access and resources to consolidate Deloitte’s position as a worldwide leader in strategy consulting. Monitor’s talent and assets will combine with Deloitte’s consulting strategy service lines, resulting in a new global presence that will redefine our industry.
In the UK, Monitor will initially operate under the Monitor Deloitte brand, while Deloitte’s strategy practice will continue to operate as Deloitte.
David Sproul, senior partner and chief executive of Deloitte says: “The acquisition of Monitor confirms the significant role that our strategy consulting practice will play in delivering on the growth ambitions I have set for the UK firm. This is an important, global transaction that further enhances our ability to serve clients from strategy to execution – helping them solve their most critical challenges and capitalise on opportunities in a global economy."
Simon Hammett, CEO of Monitor Deloitte Europe, says: “Our ability to implement the advice we provide has always been a differentiator; however, this acquisition will transform our strategy consultancy practice on a global scale and further accelerate our impact in the UK. The growing business demands placed on companies today mean their needs for strategic guidance are increasing. Together, Monitor and Deloitte will be better positioned to provide high quality advice and implementation with measurable results.”
Mike Standing, COO of Monitor Deloitte Europe, says: “We are extremely excited by the opportunity to serve clients with our newly combined strengths. With a strong, established presence in particularly the UK healthcare and life sciences and consumer industries, as well as enhanced capabilities in key areas such as innovation and growth, we now bring additional insight and execution strategies to our clients that will help create further value. We will work closely with clients to help ensure they have the confidence to make bold, well-informed choices and take timely and decisive action.”
The transaction was completed following approval by the U.S. Bankruptcy Court for the District of Delaware on 11 January 2013.
As used in this release, “Deloitte” refers to certain member firms of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), that participated in the transaction, and “Deloitte Consulting” refers to Deloitte Consulting LLP, a subsidiary of Deloitte LLP (the U.S. member firm of DTTL). Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.