Fincons acquires M&E IT outfit PDG Consulting

Source: Fincons

International IT business consulting and system Fincons Group’s US subsidiary is to acquire the assets of PDG Consulting, an IT, business intelligence and digital transformation company specialized in the media and entertainment sector.

PDG Consulting is based in Los Angeles and has an offshore office in Mumbai, with around 100 staff, 15 years of experience on the market and US$13 million in turnover.

The acquisition is set to close on December 31, and starting from January 1, PDG US-based employees and customers will be transferred into Fincons.US, Inc, while the Mumbai office, with its 40 professionals, will form an integral part of Fincons India Private Limited, a fully owned subsidiary of Fincons Group AG and sister company to Fincons.US, Inc.

Fincons Group said aims to use its Indian facilities to create a strategic option to complement its Bari Delivery Centre in Italy.

This is Fincons’ first strategic acquisition. From 2013 to today, the group has quadrupled its turnover and opened eight new offices in the UK, United States, Germany, France and Belgium, in addition to the historic offices in Italy and Switzerland.

Michele Moretti, CEO Fincons Group, said: “We have always grown organically to date, thanks to our skills, our focus on building lasting and solid relationships with customers and partners and our commitment to research and development. As a result of our efforts, we’re proud to have achieved key positioning on the international market. Now the time has come to move even further forward and consolidate our expansion plans with a significant step both for Fincons, which becomes more and more a global business, and for our customers, to whom we will now offer even more experience, quality and passion everywhere in the world.”

Francesco Moretti, Group Deputy CEO and CEO International, said: “This acquisition will contribute to making Fincons’ turnover even more consistent. Fincons’ revenues in the US will in fact exceed 25 million euros. It will also strengthen the Group in terms of assets and workforce, allowing us to offer even more rounded and competitive services to our international customers, who will benefit from an even more complete team, delivering our high standards of service and forward-thinking approach to technological integration, based on the ongoing scouting of best-in-class solutions around the globe.”

Adam Tarshis, Partner PDG Consulting, said: “With a worldwide footprint, a dedicated team comprising thousands of skilled engineers and analysts, and a remarkable four-decade legacy in IT consulting, Fincons provides PDG a much larger platform from which we can leverage our deep proficiency in media operations and video distribution. The new organization also significantly broadens the core capabilities we will be able to offer both new and existing clients. We’re excited by the vision that Michele and Francesco have for the company and are thrilled to help drive Fincons’ expansion in the US.”