US management consulting firm Oliver Wyman has acquired specialist financial services analyst group Celent. Financial terms of the deal were not disclosed.
Founded in 1999, Celent offers consulting and research on the application of IT in the global financial services industry, covering banking, securities and investments and insurance.
Oliver Wyman says that Celent's operations and staff in Boston, New York, San Francisco, London, Paris, Milan, Tokyo and Beijing will form a separate unit within its financial services practice.
Commenting on the deal, Alan McIntyre, a managing director for Oliver Wyman, says: "Celent is a well-regarded firm with a team of high-quality professionals. Its expertise in the strategic application of information technology to the financial industry complements our existing work in that area and will enhance our offering to clients."