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KPMG inks deal to acquire Rubicon Red
16 March 2022
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9 minute read
KPMG Australia has signed an agreement to acquire Brisbane-based enterprise software integration and automation specialist Rubicon Red.
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The deal sees Rubicon Red’s team of 104 people join KPMG to provide specialist skills in intelligent automation, data engineering and software integration to mid-market organisations.
The chief executive of KPMG Australia, Andrew Yates, said the acquisition came at a critical time for shoppers trying to navigate their way through a fast-changing world, and emerging technologies.
“Mid-market organisations are often trying to balance disparate technology assets without having the balance sheet to replace them all in a single investment, with a single solution,” Mr Yates said.
“Blending Rubicon Red into our own mid-market business, KPMG Enterprise, will allow us to offer the most advanced technology to our clients at a price point that’s accessible.”
Founded in 2009, Rubicon Red helps clients such as AFG, Pipe17 and the University of Adelaide embrace digital technologies and unlock the value of data.
Examples of successful technology projects delivered by Rubicon Red include an AI-powered chatbot for Queensland University of Technology to streamline their student inquiry processes; and a cloud-based home loan application system for AFG to enhance the home loan application process.
Rubicon Red founder and CEO Matt Wright said the firm was entering its next phase of evolution after helping hundreds of clients unlock the power of new technology.
“By aligning our skills and experience with the scale of KPMG Enterprise we will be able to reach so many more businesses across Australia,” Mr Wright said.
Mr Wright, together with Rubicon Red general manager of sales John Kirk and general manager of delivery, DJ Munuswamy will join KPMG as partners, bringing with them over 100 team members located across Brisbane, Sydney, Melbourne, Perth, Adelaide and India.
They will join the KPMG Enterprise technology advisory practice, headed by partner Brad Miller.
The acquisition builds upon KPMG Australia’s strategic plan to expand into technology enablement. In 2015, the firm acquired Microsoft partner Hands-On Systems, followed by Murex software specialist IT Markets in 2016. In 2020, Alex Moreno joined the firm as the first national head of Salesforce capability and in 2021 Oracle specialist Certus Asia Pacific was acquired by the firm.
The Rubicon Red business will become part of KPMG Australia later this financial year, subject to the successful completion of the acquisition. Commercial terms were not disclosed.
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