Financial advisory firm EY (formerly Ernst & Young) has signed a conditional agreement to acquire Integrc, a company which provides governance, risk and compliance (GRC) services to companies that run SAP, for an undisclosed amount, according to a press release.
The deal is subject to various approvals and is expected to complete in August this year.
The acquisition is part of EY's overall Vision 2020 growth strategy and the firm's advisory business has made a series of targeted acquisitions. It will help EY to pitch itself as an industry leader in SAP GRC services by increasing its offering from strategy to technology implementation.
"Through our global alliance with SAP, we already co-create fit-for-purpose GRC technology solutions and advanced risk analytics capabilities. With this acquisition, we will be able to provide a world-class set of solutions to help our clients' GRC operations work better," said Jonathan Blackmore, EY advisory risk leader across Europe, Middle East, India and Africa.
Headquartered in Netherlands, Integrc has offices in UK, India and the UAE also. The company specialises in the full lifecycle of GRC consultancy and support services like SAP GRC operations, audit, strategy and planning, implementation, operational control etc.
"We've inspired some of the world's leading and most responsible companies to break new ground with GRC. With EY we now have the opportunity to do this on a much bigger stage. Our SAP expertise and innovative approach is a perfect fit with EY's trusted brand, so this announcement is exciting news for customers," said Martyn Proctor and Werner van Haelst, Integrc's joint managing directors.
EY, one of the Big Four auditors besides PricewaterhouseCoopers (PwC), Deloitte Touche Tohmatsu (Deloitte) and KPMG, has a large global practice in assurance, tax, transaction and advisory services.