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Canberra-based digital transformation (DX) consultancy MF & Associates is being acquired by Fujitsu Australia in a move that shores up the reach of the Japanese technology giant’s advisory services capabilities in the Australian healthcare and public sectors.
While financial details of the transaction have not been disclosed, Fujitsu Australia has signed a share purchase deed to acquire the company with plans to place the business under its Fujitsu Uvance banner.
MF & Associates, a company founded and led by Mat Franklin since 2019, provides management consulting, cyber security and technology advisory services to private and government clients, supported by a burgeoning staff base of more than 60 across Australia.
In a LinkedIn post, MA & Associates says it is looking forward to the opportunities the acquisition ‘will bring for our team and clients’.
“MF & Associates’ focus on empathy, diversity and inclusion will support Fujitsu’s DX strategy and to make the world more sustainable by building trust in society through innovation,” the company says.
The acquisition will be the fifth in the Asia-Pacific region for Fujitsu since 2021, coming on the heels of deals for Microsoft specialist Oobe and cyber-security firm InPhySec Security.
Oobe, a fellow Canberra-based company with a services and product portfolio that spans end-user computing, applications, data, cloud and cyber, was acquired by Fujitsu early last year.
MF & Associates will continue to operate as a stand-alone Fujitsu business, retaining its identity and team members, although it will be rebranded ‘MF&A, a Fujitsu company’.
Franklin, who serves on not-for-profit boards including Northcott Disability Services, will continue to lead the company as managing director, reporting to Oobe’s Stuart Kilduff, who remained as CEO following last year’s acquisition by Fujitsu.
“We’re excited to become a part of one of the leading global technology companies and to introduce Fujitsu’s impressive technology innovations to our clients,” Franklin says.
“Like Fujitsu, we pride ourselves on having a strong purpose-led approach to the way we do business and we’re thrilled with the synergies this will create for our existing and future clients on their digital transformation journeys.”
MF & Associates was last year ranked 56 in the Australian Financial Review's fast starters for 2022, with the company this year boosting staff numbers to more than 60.
The rapid growth was needed after the company secured a $17 million contract to provide cyber augmentation services to the Australian Taxation Office with the three-year contract coming into force in March this year.
Fujitsu Asia Pacific CEO Graeme Beardsell says the acquisition of MF & Associates builds on the global giant's strategy of investing in ‘exceptional DX companies’.
“We’re experiencing a growing demand for consulting and cyber security capabilities, and we are delighted to welcome MF & Associates’ team of highly experienced consultants to Fujitsu to support our customers’ needs,” Beardsell says.
“At Fujitsu we aim to digitally transform businesses to drive positive, lasting change, for our environment, economies and societies and MF & Associates’ team of experts will further support us in achieving these goals.”
Fujitsu Uvance is a relatively new global business brand for Fujitsu. Launched in 2021, its goal has been to leverage Fujitsu’s technological capabilities and problem-solving expertise ‘to make the world more sustainable by building trust in society through innovation’.
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