Accelerate International Growth
Reza Maghsoudnia
As part of its new Impact strategic plan, the firm intends to strongly accelerate its international growth. Reza Maghsoudnia, Director of Strategic Development, tells us about it.
Fiscal year 2021/22 has been rich in acquisitions. What are the key takeaways?
Wavestone has accelerated its external growth with three new acquisitions in 2021. The first was the acquisition of the Dallas-based Everest Group consulting business. Everest Group consulting advises companies on their challenges in optimizing support functions (IT, Finance, HR, general services, etc.) through outsourcing operations, creation of captives or Global Business Services. Its clients are among the top 200 US companies, particularly in Financial Services and Healthcare.
We also acquired Boston-based NewVantage Partners. It is a niche consulting firm specializing in data strategy and working with blue-chip clients. By partnering with NewVantage Partners, Wavestone creates a tremendous opportunity to leverage a new asset in data, a key topic for Impact.
These two acquisitions have allowed us to strengthen our value proposition in the US and to enrich our client portfolio with large accounts such as AIG, CVS Health, Visa and Unilever.
Finally, we acquired why innovation! with whom we had a partnership since 2015. Based in Singapore and Hong Kong, why innovation! advises large companies in the agile transformation of their organizations. This combination strengthens Wavestone’s presence in Asia Pacific to better meet the demands of our clients in the region, particularly in banking, insurance and luxury.
The new fiscal year started well with the acquisition of Nomadéis in April 2022. Can you tell us more?
Indeed, Nomadéis is a French consulting firm specialized in the environment and social responsibility. With 20 years of experience in the field, it is a key player in supporting the energy, ecological and solidarity-based transition of companies and public institutions. This merger provides us with top-level expertise to structure our new Sustainability activity.
What are the next steps in the firm's international development?
In the coming years, we will continue to focus most of our investments in the United States and the United Kingdom to significantly strengthen our footprint in these markets.
As such, we will be looking to make several acquisitions between now and 2025 in these two key countries in order to enrich our value proposition and to our client portfolio.
Today, Wavestone supports the largest French multinationals in their most strategic transformations. Tomorrow, our goal will be to support the largest European and American companies in their key international transformations in the same way.
In which other geographical areas are you looking at acquisitions? What sectors are you targeting?
We continue to look opportunistically at potential targets in France, particularly in the areas of sustainability and digital. In addition, we are looking at opportunities in Europe for a more transformative acquisition.