Wavestone, a consultancy headquartered in France, and Q_PERIOR, a consulting leader in Germany and the surrounding region, have announced a merger, the result of which will be a new European consulting force. The two firms have nurtured a non-equity partnership since 2019, leveraging their complementarities in geographical coverage, industry footprints, and expertise. Because of this successful collaboration, the firms are now working together on a joint project to combine their strengths and achieve a leadership position among European consulting firms. Karsten Höppner, Q_PERIOR’s CEO says, “We strongly believe that the extraordinary combination of drivers for this combination makes it a unique opportunity for all stakeholders of Wavestone and Q_PERIOR.”
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Wavestone has been around since 1990 as a French consulting firm with 4,400+ employees across nine countries, primarily the US, UK, France, and in Asia. It focuses on major companies’ transformative needs through expertise in customer experience, data & artificial intelligence, cybersecurity, and sustainability. German Q_PERIOR was established more recently from the merger of three business and IT consulting firms in 2011. With 1,400 staff, Q_PERIOR has established a strategic position in Germany, Switzerland, and Austria, serving clients in industries including insurance, banking, transport, and automotive.
The Wavestone acquisition comes amidst economic changes and technological disruptions that demand an expert hand in navigating the complexities of digitalization, climate emergencies, and competitive landscapes. The new entity, poised to have a large footprint across the world, aims to offer comprehensive solutions for clients’ needs while working its way into the top 5% of CSR performing companies and maintaining a 15% revenue growth rate. With a focus on human capital and extra-financial performance, the new firm will strive to become a benchmark employer, attracting and retaining top talent while prioritizing social, societal, and environmental responsibilities. Wavestone and Q_PERIOR may sign contracts in the coming weeks, and should it be approved, the merger would take effect after the Extraordinary General Meeting in the fourth quarter of 2023.