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Big Four firm Deloitte has acquired Giant Machines, a midsize software development consultancy based in New York.
Giant Machines hasn’t publicly disclosed its exact headcount, divulging only that it employs several dozen employees at its Big Apple headquarters. The firm designs corporate websites, apps and other types of software products for its clients, which includes multiple Fortune 500 companies.
Deloitte executive Tim Juravich commented that “today’s organizations need to deliver on innovation and technology to keep pace with customer expectations and competitors. The Giant Machines product incubation and solutions services will scale our Deloitte Engineering and Deloitte Digital capabilities to help our clients accelerate product delivery.”
The context for the deal is that Deloitte, one of the world’s top accounting firms, has built out a massive IT services business over the past two decades or so. This business is now a core pillar of the Big Firm’s consulting group, which is growing significantly faster than its core accounting division. The consulting group’s top line increased by over 19% during Deloitte’s most recent fiscal year, while fee income from audit and accounting engagements rose by 13.8%
Giant Machines provides a range of services to clients besides just software development. It can carry out the market research necessary to set the direction of a new product development initiative. It also handles the prototyping phase of the projects it takes on and can manage the interface design process as well.
Deloitte previously picked up Chicago-based IT consultancy Optimal Design last March. Optimal Design focused not on software development like Giant Machines, but rather hardware design: the firm developed IoT devices for its clients ranging from startups to Fortune 500 firms. Deloitte says that Optimal Design’s engineers have experience building products across the consumer electronics market, the auto sector and several other verticals.