Deloitte all round as consultancy firm clinches Curach acquisition
Published 15/12/2010 | 05:00
Consultancy firm Deloitte has acquired Dublin-based Curach Consulting for an undisclosed amount in a move that will see 70 staff join the wider Deloitte group.
Curach has been headed since 2005 by David Dalton. His previous experience included a 15-year stint at Accenture. He'll now join Deloitte as a partner.
Deloitte did not reveal any financial details of the deal but noted that Curach has annual revenues of approximately €7m. The latest set of available accounts for the business, for the year ended March 2009, showed that it recorded a gross profit of €1.7m and an operating profit of €106,000. The purchase price is unlikely to have been material.
Curach's core areas of expertise include customer/channel management, IT, Oracle platforms, programming and project management.
Pat Cullen, the managing partner at Deloitte, said that with general market moves toward IT outsourcing, corporate restructurings and M&A activity, there is an increased demand for advisory services. He added that the acquisition marks a "significant investment" for Deloitte and said the purchase would position the group for further growth.
Deloitte's workforce in Ireland will total 370 following the transfer of Curach staff to its payroll. In September, Deloitte said it was seeking to recruit 200 staff, including 150 graduates and 30 IT consultancy experts.
Clients of Curach include Bank of Ireland and An Post.
At the announcement were (from front to back): David Dalton, managing director, Curach Consulting; Pat Cullen, managing partner, Deloitte, and David Hearn, head of consulting, Deloitte. Shane O'Neill Fennells