KPMG buys South African consultancy FIOS.

By bne IntelliNews February 24, 2011
Global accountancy firm KPMG said it has acquired South African management and business intelligence consultancy FIOS from JSE-listed Sekunjalo Investments for an undisclosed amount. Sekunjalo Investments is a black-owned investment holding company situated in Southern Africa. FIOS has been a subsidiary of Sekunjalo since 2006. The acquisition represents a significant step forward by KPMG in building business skill sets that are appropriate to market needs, Tony Vicente, Head of Performance and Technology at KPMG, said in a statement. Founded in 2003, FIOS has an extensive customer base that covers a wide range of industries including financial services, insurance, retail, mining, manufacturing and pharmaceuticals. Predominantly responsible for implementing Performance Management technology platforms including IBM-Cognos, Informatica and Oracle-Hyperion, FIOS expertise is directed at developing solutions in budgeting and forecasting, financial consolidations, business intelligence gathering and data integration.

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