Finance giant Deloitte has announced the acquisition of proposition design consultancy Market Gravity as it bids to boost its creative services.
Founded in 2009 and headquartered in London, the firm helps world-leading brands across multiple sectors including financial services, retail, energy, telecoms and automotive to create and launch innovative products and services.
A rapidly growing team based in the UK, New York, and Toronto combines consultants, designers, marketers, insight specialists and entrepreneurs will become part of Deloitte’s consulting business.
Its two founding partners, Gideon Hyde, and Peter Sayburn, will also become partners and continue to lead the team operating under the Market Gravity brand.
Rich Hurley, technology consulting partner at Deloitte, said: “Having already collaborated on a number of projects in the past, Deloitte and Market Gravity have a proven ability to work together.
“The team at Market Gravity have a unique combination of insight, commercial and design skills that give clients confidence to take a big idea and launch it to market – much quicker than previously possible.
“Their entrepreneurial spirit is evident in all their work, and something we know that all our clients will love.”
Market Gravity’s innovation and customer-led design skills, combined with Deloitte’s capacity for large scale digital transformation, will enable clients to reinvent their businesses for the future.
Peter Sayburn, chief executive officer and founding partner at Market Gravity, added: “We are really excited to be joining forces with Deloitte. Excited about the growth opportunities it brings us as a business and the opportunities this creates for our clients around the world.
“Ultimately we’re extending our leadership in delivering big company innovation. Market Gravity’s impact, and the impact on our clients and their customers, will be bigger than ever before.”
Richard Houston, UK and North West European managing partner for consulting at Deloitte, said: “Today’s acquisition is an exciting announcement for the continued growth of Deloitte’s consulting business.
“The Market Gravity team will help boost our creative consulting services and position us as a true market leader in helping clients create and launch innovative products and services.
“In an age of rapid technological change and disruption, together we can help clients innovate and succeed in the digital era.”
On 31 May 2017, Deloitte LLP acquired all of the shares of Market Gravity Limited and its subsidiaries, namely Market Gravity Proposition Design Canada Limited, Market Gravity PTE Ltd and Market Gravity Hong Kong Limited.