Deloitte Ireland acquires Red Planet innovation consultancy

Dublin, Ireland, 09th February, 2017. 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.

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.

Ends

For further information, including interview requests, please contact:

Ruairi Keogh –
rukeogh@deloitte.ie
00353871822493

Olwyn Flanagan –
oflanagan@murrayconsultants.ie
00353831737585

About Deloitte
At Deloitte, we make an impact that matters for our clients, our people, our profession, and in the wider society by delivering the solutions and insights they need to address their most complex business challenges.
As one of the largest global professional services and consulting networks, with 244,400 professionals working in more than 150 countries, we bring world-class capabilities and high-quality services to our clients.
In Ireland, Deloitte has over 2,700 professionals providing audit, tax, consulting, and corporate finance services to public and private clients spanning multiple industries. Our people have the leadership capabilities, experience, and insight to collaborate with clients so they can move forward with confidence.

A Member of Deloitte Touche Tohmatsu Limited

About Red Planet
Launched in December 2015, Red Planet Ventures Limited is focused on delivering revenue growth for corporates through highly curated access to startup-driven solutions. This type of ‘outside-in’ innovation typically delivers faster results for corporates without distracting from core operations. The Red Planet team formerly established and operated Wayra, Ireland’s most successful corporate-backed startup accelerator investing in 31 startups over three years delivering market-leading returns.