KPMG acquires IT solutions company Adoxio

30 May 2018

KPMG Canada has acquired digital customer relationship management (CRM) consultancy Adoxio, in a deal which was finalized on May 16. The 60-person firm, which specializes in the implementation of Microsoft Dynamics 365, has offices in Canada and the US. The acquisition is part of KPMG’s plan to strengthen its cloud-based service provision.

In line with the consultancy scramble to expand and reinforce their information technology and digital capabilities, Big Four accounting and consulting firm KPMG announced the acquisition of global technology firm Adoxio — a specialist in Microsoft Dynamics for Customer Engagement. The 60-person team at Adoxio helps clients use the cloud-based Microsoft enterprise resource management (ERP) software to improve their relationship with customers — drawing on vast sets of data to better understand, target, and retain them.

"Adoxio is one of the most respected CRM solutions providers in Canada and is a Microsoft Gold Partner," said Georgina Black, Partner & National Leader, Management Consulting at KPMG. "They have a deep understanding on how to use Microsoft Dynamics 365 to derive the insights and strategies to help organizations better understand and serve their clients.”KPMG acquires IT solutions company AdoxioThe boutique IT firm, which has four offices in Canada and one in the United States, will join the larger network of KPMG Canada, which has 40 locations and posted $1.45 billion in revenues last year. The acquisition is part of KPMG’s larger strategy to improve its delivery of cloud-based services to clients — in 2015 the consultancy said that it would be investing more in cloud software in order to head off future accounting-related competition from Google and Amazon.

The deal strengthens KPMG’s ability to deliver customer relationship management solutions through Microsoft 365, while also bolstering its relationship with the software giant. “This acquisition,” said Vice President of Microsoft Business Applications Hayden Stafford, “reinforces KPMG's position as one of our top Microsoft partners.” KPMG has been in a global strategic alliance with Microsoft since 2015, and is part of the 2017/2018 Inner Circle for Microsoft Dynamics – a designation awarded to only one percent of Microsoft Dynamics partners.

Commenting on the acquisition, Adoxio CEO Grant McLarnon said, "The products and services we deliver on Microsoft Dynamics 365 are in alignment with where KPMG is going with their larger Microsoft strategy, and we're enthusiastic about being a part of it. We're looking forward to taking the next step in our evolution."

The deal is the latest in a wave of boutique tech firm acquisitions by larger consultancies in North America. Last year global consulting giant Accenture acquired Toronto IT and systems-integration consultancy VERAX, while Montreal-based CGI acquired Pittsburgh-headquartered IT firm Summa Technologies. The larger consultancies are likely to continue acquiring smaller IT firms for the foreseeable future, in order to better serve the expanding digital needs of their clients.


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Mercer acquires investment consultancies Pavilion and Summit Strategies

21 August 2018

Global human resources consulting firm Mercer has announced the acquisition of two investment consultancies: Winnipeg-based Pavilion Financial and St. Louis-based Summit Strategies. The deals reinforce the capabilities of Mercer’s Wealth consulting division.

Mercer is one of the world’s top HR consultancies, offering advisory services in health (employee healthcare programs, benefits packages), wealth (investment and retirement consulting, pension plan advisory) and career (employee engagement, management, and compensation). Based in New York with 23,000 employees across 44 countries, the company services many of the world’s leading organizations, including a majority of the Fortune 1000.

The human resources consulting giant has now reinforced its Wealth consulting division with the acquisition of two investment consultancies: Winnipeg, Manitoba-based Pavilion and St. Louis, Missouri-based Summit Strategies.

Mercer acquires investment consultancies Pavilion and Summit Strategies


Founded in 2006, Pavilion has quickly grown to a headcount of 300 professionals across offices in North America, London, and Singapore. The firm was ranked 13th last year for worldwide assets under advisement (US$685 billion).

“Pavilion is a leading global investment services firm with great leadership talent supporting strong consulting and research capabilities, particularly for alternative investments,” said Rich Nuzum, President of Mercer’s global Wealth business. “In the US, Pavilion is a leading specialist in the defined contribution, endowment and foundation, healthcare, and insurance sectors. In Canada, Pavilion has a strong presence in private wealth management.”

Commenting on his firm’s acquisition, Pavilion President and CEO Daniel Friedman said, “Combining our creativity and knowledge base with Mercer’s global research resources will further enhance our team’s ability to serve our clients across the continuum of advisory and delegated services.”

Mercer will use the Pavilion brand to provide investment consulting services to institutional nonprofits and insurance sector clients.

Summit Strategies

St. Louis-based Summit Strategies was founded in 1995, and has approximately $160 billion under advisement. The investment consultancy supports institutional clients with advisory services in defined benefit pension plans, health care systems, foundations, defined contributions, and outsourced chief investment officer support.

“Summit is a strong investment consultant in the not-for-profit space, providing notable alternatives capabilities to hospitals and foundations,” commented Mercer’s Nuzum. “The depth and breadth of Summit’s expertise, coupled with our offerings, will benefit our collective client bases.”

Commenting on the transaction, Summit Founder and Principal Steve Holmes said, “We believe that having a global research footprint and a robust technology platform will better position us to support our clients. We’re excited to join Mercer and be able to bring their research capabilities and spectrum of holistic offerings to our clients.”

Both transactions are expected to close in the fourth quarter of 2018.