NTT DATA, a leading IT services provider, announced it has signed a definitive agreement to acquire Carlisle & Gallagher Consulting Group (CG), a firm that focuses on the financial services industry and has been ranked among Consulting Magazine’s Best Firms to Work For three year’s running. In 2014, CG was ranked No. 4.
The transaction is subject to closing conditions including regulatory approvals and is expected to close next quarter.
Company officials with CG have said the company’s new name will be Carlisle & Gallagher Consulting Group Inc., an NTT DATA Company. CG will continue operating as a separate legal entity, published reports indicate.
Combining the two firms will strengthen their ability to provide a full set of lifecycle consulting and IT services that can address complex business issues and deliver strong business outcomes specifically for financial institutions in North America and around the world, says Bob Gallagher, President and CEO of CG.
“Today’s financial services companies are looking to grow revenue in a market with increasing regulatory demands and technology savvy customers. They need a partner that not only understands their industry but can also deliver technology-enabled business outcomes,” Gallagher says. “NTT DATA’s broad IT services portfolio and expertise, along with its innovation and global reach, will enable CG to fully support our client needs.”
John McCain, CEO of NTT DATA, Inc., says NTT DATA has more than $4 billion in financial services industry revenue from clients around the world and it’s the largest segment of our global business. “CG supplements our portfolio with deep financial services industry expertise and consulting services and adds blue-chip clients that include 7 of the 10 largest banks in North America,” McCain says. “This strategic move positions NTT DATA as a full-service business partner with the scope and scale to help our clients achieve expected business results.”