Hakuhodo DY Holdings has acquired a 25% equity stake in UK-based digital transformation (DX) consulting company Public Digital. The deal, made through Hakuhodo DY Holdings' strategic operating unit, Kyu, gives the Japanese firm the option to raise its stake to a majority interest at a future date.
Public Digital, headquartered in London and led by CEO Ben Terrett, lists 62 employees on its website. It provides consulting to private-sector companies and public organizations in 18 countries (including HSBC, the United Nations, the World Bank, the Governments of Argentina and Australia and several Canadian provinces). The firm focuses on planning and implementing of agile service and product development to digitise organizations quickly.
A key focus recently for the company has been building coronavirus websites for more than 30 entities, including governments, local authorities and health centers. Hakuhodo DY's press release makes special mention of the growing need for digital transformation services in the wake of the pandemic.
"As the need for contactless and non-face-to-face communication rises all at once as a result of measures to prevent the transmission of COVID-19, organizations around the world are putting their trust in DX as the key to their survival and growth," it states.
No financial terms of the deal were disclosed, but Hakuhodo DY says the acquisition will not have a material impact on its performance this financial year.