Rich Macfarlane (EY)
Ernst & Young A/NZ has acquired the business of top-tier New Zealand ServiceNow specialist Red Moki, which operates across Australia, New Zealand and India.
EY said the buyout would unlock the full potential of ServiceNow to manage intelligent automated workflows and transform organisations across a range of industries.
“We are experiencing unprecedented growth in ServiceNow demands from our clients," said Rich Macfarlane, technology consulting partner at EY New Zealand.
"The Red Moki team will expand our footprint and expertise in the region and deliver valuable client outcomes.”
ServiceNow's A/NZ sales are indeed booming. In the year to the end of 2018 the regional business reported revenue of A$137 million. Four years on that had grown to A$410.7 million.
EY had known the Red Moki team for years and admired its work, Macfarlane said, so the decision to ask the team to join EY was obvious. Seventy-four Red Moki ServiceNow specialists will now do so.
"Their vision and growth plans align perfectly with ours and they will play an important role as we grow this business together," he said.
Red Moki had delivered major ServiceNow-enabled business transformations across government, financial services, telecommunications, consumer and many other industries in the region, Macfarlane said.
According to the Companies Office, Red Moki was founded in 2017. The company's major shareholder is John Hanna, with just over 50 per cent, followed by chief strategy officer and head of consulting Amit Choudhary and chief commercial officer Jenna Woolley.
The sale price was not disclosed.
“By joining forces with EY and accessing their global resources and skills, we will be able to take the service we provide to our clients to the next level and deliver true digital transformation across both the business and technology domains," said Red Moki CEO Greg Woolley.
“Our team is excited about the scale and range of opportunities that they will have access to by being a part of EY, not to mention the variety of career and development options that come with being with a leading global organisation.”
Justin Greig, EY Oceania's managing partner for consulting, said the firm sought to be the go-to transformation adviser for clients. The addition of the Red Moki business helped EY to meet the demand for technology-enabled transformations.
“The EY and ServiceNow Alliance is already benefiting our clients across a range of industries including financial services, consumer, energy and the public sector," Greig said.
"We deliver solutions and services focused on a broad range of business and industry-specific areas, including operational technology and efficiency, HR service delivery, risk management, risk and compliance, and business services."
The Red Moki is a species of antipodean fish that provided a metaphor for the business: they are territorial and stick to swimming in the waters they know best.
