UK-based fintech consulting firm Sionic Group has been acquired by professional services company Davies.
No financial details of the deal were disclosed.
The Sionic team will join Davies’ consulting and technology practice, which is headed by chief executive Mark Grocott.
Current Sionic chief executive Craig Sher will continue to be in charge of the company’s daily operations. He will also take up a place on Davies’ executive leadership team.
The acquisition comes some months after private equity firm BC Partners purchased a majority stake in Davies to support its international expansion and digital transformation plans.