The Italian at heart international IT business consulting company continues to expand internationally
Fincons.US, Inc., a fully owned subsidiary of Fincons Group AG, an international IT business consulting and system integration company incorporated 40 years ago in Italy, with more than 2,700 professionals, announces today that it has signed an Asset Purchase Agreement with PDG Consulting LLC, an IT, business intelligence and digital transformation company specialized in the media & entertainment sector, to acquire 100% of its assets. PDG Consulting is based in Los Angeles and has an offshore office in Mumbai (India) and accounts for over 100 professionals, 15 years of experience on the market and 13 million USD in turnover.
The closing date is set on December 31st 2023, and starting from January 1st 2024, PDG US based employees and customers will be transferred into Fincons.US, Inc, while the Mumbai office, with its 40 professionals, will form an integral part of Fincons India Private Limited, a fully owned subsidiary of Fincons Group AG and sister company to Fincons.US, Inc. With Fincons India, Fincons Group aims to further enhance Fincons' offering of IT services in Smart-Shore, adding a strategic option to complement the Bari Delivery Center maintaining competitiveness and customary high quality levels to the benefit of all the Group's customers.
With its first strategic acquisition Fincons Group continues its trajectory of international expansion. From 2013 to today, the Group has quadrupled its turnover and opened 8 new offices in the UK, United States, Germany, France and Belgium, in addition to the historic offices in Italy and Switzerland.
Michele Moretti, CEO Fincons Group, comments: “We have always grown organically to date, thanks to our skills, our focus on building lasting and solid relationships with customers and partners and our commitment to research and development. As a result of our efforts, we’re proud to have achieved key positioning on the international market. Now the time has come to move even further forward and consolidate our expansion plans with a significant step both for Fincons, which becomes more and more a global business, and for our customers, to whom we will now offer even more experience, quality and passion everywhere in the world.”
PDG was in fact selected not only for its strategic positioning on the US market but also for its affinities with Fincons’ values, in particular its attention to people, customers and sustainability. Furthermore, the skill and experience of PDG Consulting’s executives will complement the Fincons team in the United States, consolidating the expansion process across various target sectors.
“This acquisition will contribute to making Fincons’ turnover even more consistent. Fincons' revenues in the US will in fact exceed 25 million euros. It will also strengthen the Group in terms of assets and workforce, allowing us to offer even more rounded and competitive services to our international customers, who will benefit from an even more complete team, delivering our high standards of service and forward-thinking approach to technological integration, based on the ongoing scouting of best-in-class solutions around the globe,” declares Francesco Moretti, Group Deputy CEO and CEO International.
Adam Tarshis, Partner PDG Consulting, comments: “With a worldwide footprint, a dedicated team comprising thousands of skilled engineers and analysts, and a remarkable four-decade legacy in IT consulting, Fincons provides PDG a much larger platform from which we can leverage our deep proficiency in media operations and video distribution. The new organization also significantly broadens the core capabilities we will be able to offer both new and existing clients. We're excited by the vision that Michele and Francesco have for the company and are thrilled to help drive Fincons' expansion in the US”.