McKinsey & Company acquired two companies in Australia. These are the first acquisitions in its 50-year history.
Both acquisitions are aimed at developing McKinsey & the company’s digital capabilities, especially as many of its global customers continue to pursue digital benefits to gain competitive advantage and open value. Currently, McKinsey’s digital practices make a significant contribution to 40% of projects worldwide.
By obtaining the hypothesis, Strategic Consulting joins a team of about 40 experts in its Australian McKinsey digital practice. Hypothesis is Sydney & Melbourne-based digital-centric consulting: designing digital products and concepts, developing tools and solutions including data science, software engineering and product interfaces and embracing dynamic ways of working.
With the acquisition of Venturetech, McKinsey is adding a small team of consultants and innovators to McKinsey Digital. Venture Tech was founded two years ago and has grown into a boutique expert in digital inventions. The company has completed more than 80 customer projects in seven countries in the Asia-Pacific region.
Venturetech McKinsey is located at Leap Practice Digital, which helps customers start, build and expand digital businesses. Hypothesis is integrated into the built-in McKinsey practice, which enables corporate and public sector clients to implement digital transformation strategies and transformations into an active system.
Worldwide, McKinsey Digital employs more than 5,000 employees – data scientists, engineers, architects, developers, technologists, agile trainers, designers and cyber security professionals – from offices in more than 60 countries.
The two closed deals continue shortly after McKinsey acquired Candid Partners in the United States, which provides cloud consulting services to large companies and employs 150 people. Once deals are closed, McKinsey appears to be moving away from its traditional growth strategy, which supports organic growth. Instead of acquisitions. Last year, only German Orpheus acquired McKinsey, and in 2019 strategic consulting acquired Westney Consulting in the United States. In 2018, the New York-based strategic company did not even make any acquisitions.