KPMG in the UK today announced a strategic partnership with the Chelsea Apps Factory (CAF), one of the UK’s leading technology firms specialising in the design and production of Mobile Enterprise Apps (EMA’s).
Chelsea Apps Factory is the first partnership which will form part of KPMG’s Digital Innovation Network, a pioneering concept that aims to bring together KPMG’s industry knowledge and experience with the creativity and design skills of early stage start- up companies. The deal with CAF sees KPMG taking an initial equity stake in the business of 10 percent which may grow depending on the amount of business both parties will do together.
Alwin Magimay, Head of Digital and Analytics at KPMG comments: “We created the Digital Innovation Network to build an eco-system of ideas and innovation in a new way that benefits our clients. By working closely with early stage tech companies, such as the Chelsea Apps Factory, we can give our clients access to the hottest areas of mobile, cloud, cyber, social and analytics.”
The partnership with CAF follows last year’s opening of a permanent KPMG representation in Tech City and the launch of KPMG Capital, a global investment fund that will invest primarily in data and analytics businesses and is further proof of KPMG’s commitment to sponsor and partner with early stage technology companies.
Simon Collins, UK Chairman of KPMG, added: “Today’s partnership brings together two organisations, at polar opposites of the business spectrum. Our Tech City presence shows there is huge appetite amongst some of our largest clients to build networks with smaller tech companies, at the forefront of technological innovation. Vice versa, small tech companies, particularly start ups, are looking for the support – not just financial – of large corporates. Fostering this type of corporate ‘eco system’ can drive the UK’s route to sustainable growth. Certainly with our own corporate ‘match making’ at Tech City proving such a success, it was only natural that we would explore partnerships that we could benefit from as well!”
The demand for Mobile Enterprise Apps is driven by the increasing ‘consumerisation’ of business technology - clients and employees who are demanding intuitive and easy to use applications, often on their own private smartphones and tablets. And many businesses are waking up to the fact that apps can increase productivity and make work processes more flexible. An increasing amount of IT budgets are now being devoted to building EMA’s. Experts estimate that the UK EMA market is currently worth £150m and at the moment there is no single player offering a credible end-to-end offering for the emerging needs of the FTSE-500 companies.
Mike Anderson, CEO Chelsea Apps factory comments: “I built this business from scratch three years ago because I am passionate about helping enterprises get mobilised. Today, we have one of the most creative and skilled teams both in the UK and have built over 100 mobile Apps. Our partnership with KPMG is the next step in our evolution. Being a part of the Digital Innovation Network means that we can combine our creative talent with KPMG’s industry and technology integration expertise to offer our clients an unparalleled capability to mobilise business through a process of discovery and delivery.”
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About Chelsea Apps Factory (CAF):
Founded in 2010, the company’s has doubled in size each year and currently turns over around £3m. CAF has 50 employees, and is 79% owned by its CEO and Founder Mike Anderson, who formerly founded the Metro newspaper and was Managing Director of the Sun. Mike and his team have developed a unique, flexible and extensible platform that targets the Enterprise Apps market and a blue chip client list.
KPMG believes that by 2018, the technology sector will look substantially different. There will be a new group of world beating companies, many of which will have started and grown in the UK. There will be a mix of extremely successful global brands and strong, renowned niche players. The UK will have cemented its place as one of the key centres of technology development, attracting high levels of funding, talent and interest from around the world.
We want to help make the technology sector successful.
It was this conviction that led us to set up the High Growth Technology Group, based in Shoreditch, East London.
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.