EY, a member firm of Ernst & Young Global Limited, recently entered into a conditional agreement to acquire Dubai-based Integrc, a privately owned provider of governance, risk and compliance (GRC) services to companies that use Statutory Accounting Principles (SAP).
Integrc employs teams of consultants in the Netherlands, United Kingdom, India and the United Arab Emirates with expertise in GRC consultancy and support services, including SAP GRC operations, audit, strategy and planning, implementation, operational control, and fully managed services.
“Integrc has unique and differentiating technology and industry insight, and we look forward to welcoming their highly skilled people into EY when we complete,” Jonathan Blackmore, EY advisory risk leader for Europe, the Middle East, India and Africa, said. “Through our global alliance with SAP, we already co-create fit-for-purpose GRC technology solutions and advanced risk analytics capabilities. With this acquisition, we will be able to provide a world-class set of solutions to help our clients’ GRC operations work better.”
Gerard Gallagher, EY’s Middle East and North Africa (MENA) advisory leader, agreed.
“We are really excited about the opportunity this transaction gives us to offer truly transformational and innovative risk services to our clients,” he said. “SAP GRC is one of the main focus areas we have chosen to drive growth in our risk solutions. This acquisition will also enhance our ability to integrate many of our existing risk services onto a digital platform and create lasting value for our clients.”
Acquisitions such as this one are in keeping with EY’s growth plan.
“With this acquisition, EY will have the largest MENA-based SAP GRC specialized team among the other consultancy organizations, gaining immediate access to the largest resource pool in SAP GRC in [Europe, the Middle East, India and Africa], and strengthening our alliance with SAP,” Michael Green, EY MENA risk leader, said.
Integrc officials are also enthusiastic.
“We’ve inspired some of the world’s leading and most responsible companies to break new ground with GRC,” Martyn Proctor and Werner van Haelst, Integrc’s joint managing directors, said. “With EY we now have the opportunity to do this on a much bigger stage. Our SAP expertise and innovative approach is a perfect fit with EY’s trusted brand, so this announcement is exciting news for customers.”
The projected completion date of the acquisition is Aug. 1.
