EY buys financial services solutions provider IZAZI Solutions
Continuing its extensive Africa investment plan and its market leadership drive across the African continent, professional services firm EY has completed the acquisition of IZAZI Solutions, an international consulting firm employing 200 people across four countries.
Founded in 1999, IZAZI Solutions is a consulting firm focused on providing solutions in the digital and technological domains to firms in the financial sector in Africa and elsewhere. The firm offers implementation services such as project management, product configuration, process alignment, systems testing, as well as the development of custom-built software applications.
The firm was founded in Johannesburg, and has since grown to employ 200 consultants in offices across four locations, including South Africa, Australia, Canada and New Zealand. The firm provides IT services and solutions, and has been widely recognised as a leader in Core Banking.
As an extension of Big Four accounting and Advisory firm EY’s expansion strategies in Africa, IZAZI has recently come under control of the firm through an acquisition. The firm is poised to lead the provision of EY’s IT solutions and products to companies and governments alike across Africa. The new alliance will focus on enterprise intelligence, working in multi-disciplinary teams to provide multi-dimensional solutions.
This is the latest in a long line of acquisitions that EY has conducted in South Africa over the last few years, starting from 2011 when they first acquired Quindiem Consulting, to the most recent acquisition of 8th Man Consulting in 2014. The move has been given unconditional approval from the Competition Commission and will be operational from 1st September, 2015.
Commenting on the acquisition, Ajen Sita, the CEO for EY in Africa said, “I have been impressed with the people, solutions and clients of IZAZI. Their unique skills, dynamic leadership and strong teams fit perfectly with the EY culture. In addition, the combination of EY’s consulting capability and Africa footprint with IZAZI’s depth in IT solutions and systems integration is very exciting. This will enable us to bring to market and offer our clients a compelling and powerful value proposition. We’re excited at the impact we will have in helping our clients solve their most complex technology and data issues.”
Meanwhile, Jay Pather, the CEO of IZAZI Solutions remarked, “We are excited about this opportunity to join forces with EY. EY’s strong Africa footprint and Global network provides tremendous opportunities for the people of IZAZI to replicate their success in South Africa and in other markets of the world. We share a common identity with EY in our people focus and our commitment to make a difference to our clients. With EY, we plan to bring a number of exciting new solutions to the market in coming months.”
