PwC acquires IT firm Mokum
PWC has successfully acquired the IT consultancy firm Mokum, incorporating its 160 London and Manchester-based professionals into the folds of the Big Four company, with the distinction of promoting two of them to partnership.
Mokum specializes in the implementation of Oracle applications, offering managed services and related software solutions. The agreement, inked on the 13th of February, is poised to receive formal approval in March, pending regulatory and independence compliance checks.
This strategic acquisition aligns with PwC's proactive approach to integrating technology into its service portfolio. The move is a response to heightened client demand for technological proficiency to underpin business transformation initiatives.
Ashley Unwin, an executive board member and the head of consulting for PwC UK, emphasized the significance of this move, stating, “Across various sectors, including banking and retail, many of our clients are grappling with substantial challenges that necessitate a fundamental reshaping of their business strategies, and technology plays a pivotal role in this transformation. The incorporation of Mokum is a key component of our commitment to assisting companies in navigating this journey.”
Unwin further highlighted the synergy between the acquired Mokum and PwC's existing Oracle capabilities, forming one of the largest Oracle technology practices in Europe. With Mokum's established market position and brand strength, PwC anticipates an expansion of market share and substantial revenue growth in this fiercely competitive domain.