Deloitte boosts cloud offering 750-strong HashedIn acquisition
Deloitte has bolstered its cloud offering in India with the acquisition of HashedIn – a roughly 750-strong digital services firm specialised in Software-as-a-Service (SaaS).
“Cloud continues to be a top priority for us and with this acquisition, we are uniquely poised to support digital transformation at a global scale,” noted Sam Balaji, Global Consulting leader at Deloitte.
HashedIn was launched in Bangalore in 2010, and has since grown into a global operation with around 750 professionals spread across India, Australia, the US and Malaysia. The firm’s portfolio spans well over 200 cutting edge software products, delivered to more than 200 clients over the years.
Deep technology forms the core of HashedIn’s proposition, featuring products in SaaS, cloud-native architecture, analytics and machine learning among others. The firm boasts Advanced Consulting Partner status with Amazon Web Services (AWS), and is also a Salesforce Consulting Partner and the sole RedIsLabs service provider in the Asia Pacific.
“This acquisition further strengthens our capabilities in working with the major cloud providers, including Amazon Web Services (AWS), Microsoft Azure, and Google Cloud,” said Ranjit Bawa, principal and Cloud Leader at Deloitte Consulting.
Digital boost
The move is just the latest in an extended period of digital expansion. The Big Four accounting and advisory firm has been on the charge in India lately, particularly since bringing its dedicated technology arm – Deloitte Digital – to the country in 2018. The firm teamed up with Oracle in India in 2019, and brought its partnership with Google Cloud to India last year. Indeed, the firm’s Global CEO Punit Renjen has vocally declared India a key market for the country going forth, as it drives forward with digital investments globally.
“Deloitte is continually looking for opportunities to invest in innovation and disruptive technologies,” noted Balaji. HashedIn’s SaaS specialisation throws up an alluring proposition in India, which could occupy nearly 10% of the SaaS market by 2022 according to Bain & Company.
For HashedIn, the move is a considerable step up, delivering access to Deloitte’s vast scale, resources and expertise. According to CEO and co-founder at HashedIn Himanshu Varshney, the two firms align in cluture as well. “Deloitte shares our commitment to delivering world-class value to organizations and creating the best talent experience for our professionals. Together, we look forward to delivering leading-edge technology solutions to organisations.”
Varshney and his fellow co-founders Sripathi Krishnan and Anshuman Singh – HashedIn Chief Technology Officer and Chief Operations Officer respectively – are now Deloitte Consulting Managing Directors, while the rest of the staff will also integrate with Deloitte’s global operation.
“We are excited to welcome our HashedIn teammates as we continue to scale our cloud native development and high-end software engineering services to solve our clients' toughest problems effectively,” said Bawa.
The deal is Deloitte's first in 2021, having closed over ten transactions in 2020.
