KPMG Australia has signed an agreement to acquire the business of Brisbane-headquartered enterprise software integration and automation specialist, Rubicon Red. The deal will see Rubicon Red’s team of 104 people join KPMG to provide specialist skills in intelligent automation, data engineering and software integration to mid-market organisations.
Announcing the acquisition, KPMG Australia CEO, Andrew Yates, said: “This comes at a critical time for clients trying to navigate through a fast-changing world, and emerging technologies.”
“Mid-market organisations are often trying to balance disparate technology assets without having the balance sheet to replace them all in a single investment, with a single solution.”
“Blending Rubicon Red into our own mid-market business, KPMG Enterprise, will allow us to offer the most advanced technology to our clients at a price point that’s accessible.”
KPMG to salvage market expansion by Rubicon Red
Founded in 2009, Rubicon Red helps clients like AFG, Pipe17 and The University of Adelaide to explore and embrace digital technologies, and to unlock the value of data. The business is an approved partner for several technology vendors including MuleSoft, Oracle and Solace.
Successful tech projects by Rubicon Red include an AI-powered chat-bot for Queensland University of Technology to streamline their student enquiry processes; and a cloud-based home loan application system for AFG to enhance the home loan application process.
Rubicon Red founder and CEO, Matt Wright said: “Having helped hundreds of clients to unlock the power of new technology, we are ready for the next phase in our own evolution.”
“By aligning expertise with the scale of KPMG, we will be able to reach so many more businesses across Australia. Most importantly, our mission and values are wholly in alignment with KPMG – both in terms of building the best place to work for our people, and for our desire to have a positive impact on our communities, society and the world around us.”
Rubicon Red executive and team to join KPMG
Matt Wright, together with Rubicon Red General Manager of Sales John Kirk, and General Manager of Delivery, DJ Munuswamy will join KPMG as Partners, bringing with them over 100 team members located across Brisbane, Sydney, Melbourne, Perth, Adelaide and India.
They will join the KPMG Enterprise Technology Advisory practice, headed by Partner, Brad Miller. Brad Miller said: “Rubicon Red is at the forefront of the integration of new solutions which brings together technology assets, data and insights to solve problems, something that has been recognised by industry awards and a host of delivered client projects.”
“We are privileged to add Rubicon Red’s expertise and industrial capabilities to our firm. Their offerings will provide additional opportunities for our customer base to extend the life, value and optionality of their existing technology investments and services.”
KPMG’s strategic tech expansion
The announcement builds upon KPMG Australia’s strategic and elaborate plan to expand into technology enablement. In 2015, the firm (KPMG) acquired Microsoft partner Hands-On Systems, followed by Murex software specialist IT Markets in 2016.
The Rubicon Red business will become part of KPMG Australia later this financial year, subject to the successful completion of the acquisition. Commercial terms were not disclosed.