- Deloitte acquired cloud-native software engineering and product development boutique HashedIn Technologies, the firm announced Thursday.
- The deal comes as clients and firms are making a “generational shift” in how they think about the cloud, said Ranjit Bawa, Deloitte’s cloud leader.
- HashedIn is the latest cloud acquisition for Deloitte, which is a leader in the space and has made 14 acquisitions since 2017.
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Professional services firms are snapping up opportunities to grow their cloud technology services as clients show they’ll pay top dollar for expertise. Deloitte is the latest firm to ink a deal in the space.
The firm acquired HashedIn Technologies, a Bangalore, India-based boutique that specializes in cloud-native software engineering and product development, Deloitte announced Thursday.
The acquisition is the latest of many for Deloitte, which has been a leader in cloud offerings among professional services firms. The firm has been making targeted growth in the space since 2017 as the demand for cloud services has exploded due to a “generational shift,” said Ranjit Bawa, Deloitte’s cloud leader.
Worldwide company spend on cloud services was about $36.5 billion between July and September, up $9 billion from the same period in 2019, according to market-research firm Canalys.
“The market is shifting, and this is a once-in-our-professional-lifetime that we’ll see such a shift into cloud technology,” Bawa told Business Insider, adding that in the last few years, Deloitte’s cloud work has moved from just getting clients accustomed to the cloud to building out new products quickly with its technology.
“This is the forefront of helping shape clients’ destiny, their products and businesses,” he said. “That’s the promise of the cloud: agility, and doing tasks in a matter of days and weeks instead of months and years.”
In the last three years, Deloitte has “really doubled down and gone in on the cloud in a big way,” Bawa said, and has made 14 acquisitions in the space, including software-modernization company innoWake; cloud consultancy Blue Spurs consulting; and DevOps specialists Strut Digital. Deloitte’s cloud group has grown to 50,000 professionals across 150 countries.
The HashedIn acquisition marks a new era for Deloitte, Bawa said, because the boutique is deeply focused on cloud engineering and has the software development chops to quickly bring new ideas and products to life.
The terms of the deal were not disclosed, but Deloitte is hoping to close by the end of the year and bring the boutique’s 700 employees under the firm’s wing by the end of 2020.
Other professional services firms also boosting their resources in the cloud space. PwC in November made its first notable cloud acquisition, a deal that netted the firm multiple AWS Partner Network ambassadors, a selective group of 200 global experts of Amazon Web Services, Amazon’s dominant cloud-computing business.
Read more: PwC just bought a cloud-consulting company to turbocharge its AWS practice and ramp up its efforts to be clients’ go-to for digital transformations
Like Deloitte, PwC has relied on boutique cloud firms to grow in the space, because their smaller size and highly individualized experts drive much of the cloud innovation happening today.