KPMG buys Markets IT

09/02/2016 - 15:30

Professional services firm KPMG inked its 11th acquisition in the past two years today, announcing the purchase of Melbourne-based Markets IT for an undisclosed sum.

KPMG buys Markets IT
Markets IT founder Tim Robinson will join KPMG as a partner, while co-founder Craig Snell and director John Rusjan will become KPMG directors.

Professional services firm KPMG inked its 11th acquisition in the past two years today, announcing the purchase of Melbourne-based Markets IT for an undisclosed sum.

KPMG will expand its presence in the capital markets technology sector with the acquisition of Markets IT, a technology consultancy specialising in financial services.

The company implements integrated trading, risk management, regulatory reform, traders surveillance, processing and post-trade solutions for both buy and sell-side organisations including banks, clearing brokers, central banks, investment managers and hedge funds.

“Financial services organisations face an unprecedented landscape of rapid change –continual regulatory changes, heightened competition, innovation threats and opportunities, and technology changes,” KPMG Australia chief executive Gary Wingrove said.

Markets IT is a very timely and strategic acquisition that also supports our global capital markets strategy, and our growing Murex-related services here in Australia as well as in Asia Pacific, Europe and South Africa.”

KPMG Australia technology leader Richard Marrison said technology enablement was a priority investment area for KPMG.

“This is the third acquisition we’ve made in this space recently in Australia.  Technological advances will continue to reshape operating models and service delivery in financial services over the coming years,” Mr Marrison said.

“The most successful organisations will utilise technology to ease the regulatory burden, and support growth and innovation.”

Markets IT founder Tim Robinson will join KPMG as a partner, while co-founder Craig Snell and director John Rusjan will become KPMG directors.

Mr Robinson said Market IT’s offering was directly complementary to KPMG’s business, regulatory and technology enablement services and strategic areas of focus.

“I believe the combination of business platform enablement services, together with KPMG’s brand and broader risk and transformation expertise positions us strongly to become the local market leader,” he said.

“We anticipate further rapid growth in the Australian market going forward.”

In the past two years, KPMG has made 11 acquisitions including social media risk consultancy SR7, the Melbourne team of Pacific Strategy Partners, an accounting practice in Karratha, mining services consultancy Momentum Partners, KPMG SGA Property Consultancy, First Point Global cyber security business, WA-based accounting and advisory business Hayes Knight, human rights and social impact consultancy Banarra, Microsoft Implementation partner Hands-on Systems, and The Performance Clinic.

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