EY-Parthenon bought Boston-based CMA Strategy Consulting in a move to improve its strategy and transactions-focused offerings in the digital infrastructure and TMT consulting space. This move will help EY-Parthenon continue its growth through the pandemic and meet demand from companies looking for post-pandemic business strategy support. Let’s look into what this acquisition means for both firms.
What the Acquisition Means for EY-Parthenon
EY-Parthenon is the strategy arm of Big Four accounting firm EY. EY-Parthenon has seen strong growth through the pandemic and needs to add to its headcount to continue to support clients. While EY-P has been doing this organically, the acquisition also helps meet that goal.
The acquisition of CMA will allow EY-Parthenon to better support its clients in the TMT space. This isn’t the firm’s first venture into bolstering its tech capabilities – nor will it be the last. In the United Kingdom alone, EY-P went on an acquisitions tear in 2021, including for Pythagoras, Lane4, and Seaton Partners.
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What CMA Strategy Consulting Brings to the Table for EY-Parthenon
CMA Strategy Consulting brings a wealth of digital infrastructure expertise to pair with EY-Parthenon’s existing strategy capabilities. Digital infrastructure is a market that encompasses the physical resources needed to enable the use of data and computerized methods. Its digital infrastructure services focus on data centers, fiber networks, towers, small cells, communication services, and enterprise IT.
CMA Strategy Consulting is based in Boston, with additional offices in San Francisco and London. The firm currently employs 65 consultants who will now be a part of the EY-P team going forward.
Conclusion
With this move, EY-Parthenon is signaling a not-surprising shift towards digital and tech. This means there will be plenty of opportunities in the firm’s TMT practice – now is the time to submit your application! Work with our expert team to prep your resume/cover letter and get ready for interviews.
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