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18 June 2012 | Kamalpreet Badasha
KPMG in Germany is acquiring procurement consultancy BrainNet Supply Management Group in a deal expected to be completed by the end of the summer.
The financial terms of the takeover have not been disclosed and it will be subject to approval by regulatory authorities. It will, however, include the transfer of all BrainNet’s employees, of which there are around 300, according to BrainNet’s director of communications Dimitrij Naumov.
Following the takeover, professional services firm KPMG plans to create a global procurement and supply chain ‘centre of excellence’, which will be headed by BrainNet CEO Christian Rast.
Based in Germany and Switzerland, BrainNet has 15 branches wordwide, with clients including Siemens, Credit Suisse, Lufthansa and Holcim.
“With the acquisition of BrainNet, KPMG will have an even greater depth of knowledge and global footprint to help member firm clients navigate their most complex supply chain challenges and opportunities,” said Mark Goodburn, global head of advisory, KPMG International.
Rast added: “We feel confident that the combination of our strategic and technical expertise, along with KPMG’s international footprint, will greatly enhance our efficiency, innovation and competitive advantage.”
No further details about the takeover were disclosed.