To address the growing needs of financial services firms to implement technology solutions that deliver clear business outcomes, NTT DATA Inc., a leading IT services provider, has signed a definitive agreement to acquire Carlisle & Gallagher Consulting Group (CG), a business and technology consulting firm that exclusively focuses on the financial services industry. 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.
CG is a leading financial services consultancy with a unique blend of industry expertise in consumer and commercial banking, wealth management and capital markets as well as proven consulting experience that delivers results. This expertise, coupled with NTT DATA’s broad technology depth, innovation and global reach, provides clients with a business partner that can help them adapt to changing market dynamics and implement business-based technology solutions that can drive growth and cost efficiencies.
“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,” said Bob Gallagher, president and CEO of CG. “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.”
“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,” said John McCain, CEO of NTT DATA Inc. “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. 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.”
The transaction is subject to customary closing conditions including regulatory approvals and is expected to close next quarter.