The acquisition of Crimsonwing by KPMG has been concluded, with the approval of investors with 97.7 per cent of the shareholding.
Trading in Crimsonwing shares will end on Tuesday, and those shareholders who did not accept the €26 million offer will be obliged to sell their shares within three months. The price has been described by KPMG as “a premium to the share price”.
The company will become known as KPMG Crimsonwing and will be jointly owned by KPMG’s firms in the UK, Netherlands and Malta, although it will be retained as a separate business.
Crimsonwing’s founder, David Walsh, will be chief executive of KPMG Crimsonwing, which will combine KPMG’s current Microsoft Dynamics teams in the UK and Netherlands with Crimsonwing to create an overall team of approximately 350 people.
The combined entity has a goal of more than doubling in size over three years.
Founded in 1996, Crimsonwing provides industry-specific business, mobile and cloud solutions for international clients related to Microsoft Dynamics and e-Commerce.