Deloitte Ireland has acquired Red Planet, a Dublin-based innovation consultancy uniquely focused on driving corporate revenue growth through structured access to startup innovations.
Since its launch, Red Planet has secured a number of blue-chip telecommunications and financial services clients, delivering startup digital solutions creating value growth for both the corporate and the enabling startup.
“The fit with Deloitte is clear,” says Brendan Jennings, Managing Partner, Deloitte Ireland. “We are continuing to invest in our digital transformation business as our clients demand greater agility and expertise in a rapidly changing digital world.
We have to disrupt the way we work and deliver value. Red Planet’s outside-in, startup-led approach brings a different way of working for our clients and our people. Furthermore it expands our global network of experts, partners and startups to help our clients understand and harness disruptive technologies to create new and accelerated growth.
— Red Planet (@ourRedPlanet) February 9, 2017
2017 has already seen us open our Blockchain Hub, where a team of 25 will grow to 50 by year end. Add this to the recent acquisition of System Dynamics, growth of Deloitte Digital, and investment in domains such as robotics, AI and analytics, and you have a Deloitte proposition that is truly unique in the Irish market.
“Our goal is to enable significant value creation for our clients, driving additional investment into service development in Ireland and delivering sustainable employment growth,” added Jennings.
“Established corporates are designed to drive profit in stable environments. However the speed of change is increasing rapidly, with many companies now struggling to resonate with their clients,” says Karl Aherne, CEO of Red Planet. “Customers are always on and always connected through the supercomputers in their pockets and complex products and services have been mobilised through low cost development and human-centric design. The ability to instantly engage with customers, combined with low cost adoption and frictionless payments has changed the rules. Companies need to hardwire innovation into every part of their business, at every level, which will enable 10 times rather than 10% growth,” says Aherne.
The size of the deal has not been disclosed for commercial reasons but Deloitte confirms that it plans to continue making significant investments in its digital capability.