Deloitte Acquires innoWake to Help Clients Modernize Aging IT Systems Faster
NEW YORK, June 6, 2017 /PRNewswire/ -- Increasing its investments in capabilities that help clients modernize aging information technology systems, Deloitte today announces the acquisition of innoWake, a German-based software company that specializes in modernizing old software code in more automated ways. innoWake becomes part of Deloitte's Application Modernization service offering that helps clients take advantage of existing information technology while simultaneously investing in new digital, analytics and cloud capabilities.
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Deloitte's Application Modernization offering provides organizations a proven, automated, low-risk process for modernizing old ? also known as legacy ? technology infrastructure and applications. According to insights generated by Deloitte's New-Venture Accelerator (DNA), 60 percent of business transactions run in legacy software languages like COBOL and Natural. Organizations running these types of systems must migrate much of this code into modern languages like Java and .NET that integrate with the latest technologies ? typically a tedious, time consuming and cumbersome process. Key to Deloitte and innoWake's approach is fully automated refactoring -- migrating old code and data in unison.
Modernizing enables deployment of applications to cloud or mobile platforms, which helps improve business processes, workflow and communications while also integrating analytics, security and enterprise content management applications.
"This strategic union combines the proprietary and market-leading refactoring product suite from innoWake with the global reputation and breadth and depth of technical and overall management consulting services Deloitte offers," said Thorsten Bernecker, chief executive officer, innoWake. "Together, we have the capability and breadth to be the leader in the code refactoring, cloud migration and application modernization market."
"innoWake's team and knowledge will further enhance Deloitte's modernization capabilities," said Haissam Issa, principal, Deloitte Consulting LLP, Global Systems Integration Leader. "innoWake's team possesses a highly-technical, specialized skill set, having developed world-class products that enable a continuous cycle of improvement, fully automated code refactoring, faster time to implementation and lower-cost, lower-risk migrations."
"Deloitte and innoWake deliver a comprehensive offering to address the mission-critical legacy modernization needs of our clients. We help clients solve complex system challenges in an automated and repeatable way that establishes a platform for business and technology modernization," said Marlin Metzger, principal, Deloitte Consulting LLP, Application Modernization offering leader. "Our teams have worked together for nearly five years and we are now able to deliver an even better experience and more value for our clients."
Financial terms of the acquisition are not disclosed. More information about Deloitte Application Modernization can be found at: www.deloitte.com/us/applicationmodernization.com.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including 80 percent of the Fortune 500 and more than 6,000 private and middle market companies. Our people work across more than 20 industry sectors to deliver measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society.
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SOURCE Deloitte
