EY announces two moves to enhance digital transformation capabilities

16 January 2019 Consultancy.in

Global professional services firm EY is looking to enhance its capacity to support its Indian clients with digital transformations, not only by adding as many as 2,000 professionals to its roster over the next three years, but also through the acquisition of Pune-based Fortune Cookie UX Design (FCUX). 

Founded in 2007, FCUX is a digital consultancy that offers support with designing interactive and innovative user experience (UX). The firm covers all aspects of UX, starting from support with product conceptualisation and design and extending to the website and user interface design.

The firm’s strategies are backed up with in-depth research around trends in user behaviour. As a growing portion of India’s population moves online, UX is becoming increasingly relevant to an organisation’s operations, and is a critical part of the digital transformation strategies that many Indian businesses are currently engaged in.

EY is looking to tap into this expanding market, and is in the process of acquiring FCUX to enhance the UX department of its digital transformation capabilities. The firm is simultaneously looking to develop its capabilities in other dimensions in the industry 4.0 domain.

EY announces two moves to enhance digital transformation capabilities

Automation is one such area of investment, given that advancement in the sector is expected to bring significant alterations to the Indian market. To this end, the Big Four accounting and advisory firm has announced additional plans to hire 2,000 professionals in the next three years – all with expertise in various technological implements – adding to its existing roster of 2,000 technology experts. 

A statement from the firm read of the acquisition, “Design thinking and user experience design are critical to digital transformation. With this acquisition, EY's digital transformation service offering will be enhanced with the presence of design thinkers and UX designers.”

Commenting on the timing of the move,Mahesh Makhija, Emerging Technology & Digital Leader at EY India said, “The integration comes at a crucial time as clients are becoming increasingly digital and looking for innovative solutions to better engage their customers and accelerate business performance.”

Founder & CEO at FCUX Shashank Shwet added, “For the last 10 years, we have designed digital ecosystems with the user at the centre of the strategy. Organisations need well defined processes for user research, design thinking, UX Design and digital transformation.”


More news on


IMAP advises on acquisition deal between major Indian iron ore players

18 April 2019 Consultancy.in

After submitting a bid of approximately $65 billion, Essel Mining – owned by the Aditya Birla Group – has acquired iron ore development firm Pro Minerals. The latter was advised throughout the transaction by a team from global corporate finance advisory firm IMAP, led by Managing Director & CEO Ashutosh Maheshvari. 

Pro Minerals has been operational for just under a decade, having been established in 2010.The firm was a collaborative venture between Hari Machines and Jyotirmoyee International, and has since evolved into a giant of the metals and minerals sector in India, not least due to its plant in Odisha.

The plant in the Eastern state of India has an annual iron-ore benfication cum pelletization output of 1 million tonnes, and was established with collaborative input from Allmineral in Germany and Primetals Technology from Austria. Nevertheless, the firm found itself in financial trouble in recent years.

After months of insolvency pressure, the firm was put up for acquisition by its financer Bank of Baroda, which has now accepted a bid from Essel Mining complete with a capital infusion that would settle the firm’s existing finances. Advice on the deal came from global corporate finance consultancy IMAP.

IMAP advises on acquisition deal between major Indian iron ore players

IMAP is a partner-owned firm that specialises in the mergers & acquisitions (M&A) domain, and supports firms that fall into the medium-sized category. The firm advises on the buy side as well as the sell side, and supports clients in as many as 200 transactions on an annual basis.

The firm also works with larger multinational firms across a variety of sectors, and deal sizes vary from $20 million to $300 million. In keeping with global trends, the majority of deals that IMAP was involved in last year were in the technology domain, although the latest one falls in the materials, chemicals & mining domain.

Essel Mining & Industries – a subsidiary of the Aditya Birla Group – is one of the most prominent iron-ore mining corporations in India, and holds the position as the largest producer of noble ferro alloys in India. The acquisition of Pro Minerals was supported by Ashutosh Maheshvari and a team of IMAP professionals.

Director at the firm Paresh Raja was also amongst the experts who advised on the deal. The transaction results in a 100% acquisition of Pro Minerals’ business operations.