German professional services network KPMG AG said it will take over consultancy specialist BrainNet Supply Management Group for an undisclosed sum.
The target company is based in Bonn, Germany and St. Gallen, Switzerland and focuses on procurement consulting and supply chain management (SCM). The buyer said that the transaction boosts KPMG member firms’ existing capability in designing and optimising global supply chains and that it expands its service offering.
Through the transaction, KPMG intends to form a global Center of Excellence to provide support for the procurement and supply chain management offering of its member firms, including the BrainNet business. BrainNets chief executive officer Christian Rast will head the Center.
The deal, which is pending regulatory approvals, is expected to be completed later during the summer.
BrainNet, with annual revenues of more than USD65m (EUR51m), has presence in in Bonn, Budapest, London, Mexico City, Mumbai, Munich, Pittsburgh, Rio de Janeiro, Saao Paulo, Shanghai, St. Gallen, Stockholm, Vienna and Wroclaw. The company’s client base stands at over 500. It providers solutions in the areas of research & development, operations, logistics, purchasing and strategic qualification.