PwC has acquired the Enterprise Business of Tyconz, one of the Middle East’s leading SAP implementation and technology partners. The deal adds around 150 employees to PwC’s Advisory business across six offices.
Globally, PwC is one of SAP’s premier partners. The accounting and consulting firm helps its clients design and implement SAP systems to streamline their processes, redefine efficiency, unlock data-drive insights and fuel innovation, among others. PwC’s track record spans all of SAP’s main solutions – including cloud ERP and S/4HANA – and functional domains.
In a bid to meet growing demand for digital transformation in the Middle East, in part accelerated by the unfolding Covid-19 pandemic, PwC has beefed up its Technology Consulting business with the addition of Tyconz’s Enterprise Business, which focuses on larger clients. The deal marks the firm’s first in the region since it bolted on UAE-based data analytics firm Teambase in May last year, and just its second globally during the corona-induced downturn (following a deal in Austria).
Leading Hani Ashkar Senior Partner at PwC Middle East to admit, “This purchase is a differentiating move in the current climate, enabling PwC to meet the growing digital transformation needs in the region.”
Indeed, Covid-19 has seen demand for digital transformation services surge nearly instantly as organisations of all sizes and shapes grapple with remote working, doing business virtually and collaborating digitally through the likes of Teams and Zoom. According to a study by PwC, leaders in the region are now 62% more likely to adopt automation and new digital ways of working as opposed to the pre-Covid-19 era.
Meanwhile, a study by McKinsey & Company found that consumers similarly are turning to digital channels of all sorts as they adapt to life in the ‘new normal’, while a PwC report found that lifestyle choices in itself are digitising.
This is where SAP and PwC’s partnership comes in. SAP is the engine room for digital transformation at mid-sized companies and multinationals, serving as the core infrastructure for running processes in domains such as sales & marketing, finance, supply chain, operations, manufacturing and human resources.
With the acquisition of Tyconz’s wing, PwC boosts its capabilities across a number of areas, including intelligent enterprise, predictive analytics, data management, cloud computing, operations excellence, human experience management, customer experience management, training and digital platforms, stated Imad Abuizz, Head of PwC’s Technology Consulting practice in the Middle East.
“With this acquisition we are better positioned to support our customers to achieve the right level of automation and adopt new ways of working across the region,” he said.
Established over 10 years ago, Lebanon-headquartered Tyconz has grown into one of the larger SAP players in the region. The SAP Gold Partner has worked on close to 700 projects for 350+ projects since inception, bagging over ten SAP awards for its excellence in conception, delivery, training and support. Today, Tyconz has offices in Riyadh, Dubai, Doha, Beirut, Cairo and Kuwait.
The carve-out sees a team of 150 professionals, focused on non-enterprise clients, continue to operate under the Tyconz brand.
Commenting on the decision to join PwC, a 6,000-strong giant in the region, Tyconz co-founders Tarek Abdel Khalek and Jawad Fakih and now partners at PwC said: “We are thrilled with the joining of forces with PwC. Together we will be able to deliver more complete and competitive digital transformation services and solutions to customers.”
Alongside SAP services, PwC also has technology alliances with software majors such as Oracle, IBM, Microsoft, Salesforce, Celonis and Appian.