In a somewhat rare move for the strategy firm, McKinsey & Company has acquired Atlanta-based Candid Partners, a provider of cloud services to large organizations.
The acquisition marks the first for McKinsey in 2021, following up on its 2020 acquisition of German digital procurement solutions provider Orpheus, and its 2019 purchase of Westney Consulting, a Houston-based boutique capital projects firm specializing in the energy, power, chemical and mining industries. In 2018, McKinsey made no acquisitions at all.
"We were immediately struck by the impressive depth and collaborative approach of the people we met at Candid Partners – and their track record of both solving complex technical challenges and delivering cloud programs for some of the world's largest organizations," says Steve Van Kuiken, a senior partner and global leader of McKinsey Technology.
As part of the acquisition, more than 100 senior engineers, developers, architects and agile coaches will join the New York firm from Candid. Candid's roster of technical talent includes many senior professionals with more than 20 years of experience at firms including Accenture, Deloitte, and EY.
Together, McKinsey and Candid Partners will work with clients on end-to-end cloud transformation, from strategy, to business-case development and roadmapping.
The cloud consulting market has seen a lot of action lately, so the timing behind McKinsey's acquisition makes sense. Deloitte recently announced its 14th cloud-related acquisition since 2017, and Accenture in September allotted $3 billion to support its new "Cloud First" division over the next three years. Cognizant has made a dozen acquisitions in the last year, of which several have a cloud focus.
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