McKinsey acquires Budapest-based digital consultancy IncepTech
Global consultancy McKinsey & Company has bolstered its digital division in Europe with the acquisition of IncepTech, a Hungarian company that develops digital products and businesses.
The acquisition is McKinsey’s first in Europe since acquiring Swedish sustainability consultancy Material Economics in late 2021 and British firm Vivid Economics in the first quarter of this year. Outside of Europe, however, the company has focused its acquisitions on its digital capabilities, with Hypothesis in Australia and Candid Partners in the US the latest two additions to McKinsey Digital.
The IncepTech integration adds a team of more than 60 digital consultants, product engineers and software architects in Budapest to McKinsey Digital.
Paul Jenkins, Senior Partner and Head of McKinsey Digital Europe, said of the deal, “With IncepTech’s technology leadership and deep engineering skills, we can significantly expand what we already do: mobilizing small highly skilled teams to help clients build digital products, channels and businesses.
Founded by a group of McKinsey & Company alumni, IncepTech specializes in software engineering, digital expertise and technology. The company takes a different approach to traditional tech houses, said Gyorgy Buslig, who founded IncepTech in 2014.
“When we started our company,” Buslig said, “we wanted to create a culture that fused the worlds of technology and business. It’s not just consultants and engineers working together, but also engineers who want to be digital business leaders, and business consultants who love this world of technology and want to understand the inner workings of all things .
In 2019, two former McKinsey consultants – Daniel Schay and Aron Antal – joined IncepTech as partners, further intensifying the ties between the two firms. Over the past few years, the couple have worked together on several projects such as “helping a growing real estate agency build an ecosystem of digital services to increase revenue, and working with an expedition cruise line to develop their platforms. digital distribution platform for travel agents and customers,” said Buslig.
Now part of McKinsey Digital (terms and conditions of the deal were not disclosed), “our teams will be 100% integrated from the start. It will give us the opportunity to work on some of today’s most intriguing digital challenges,” Buslig said.
McKinsey Digital Studio
The new Budapest team will form the core of a new studio, becoming the fourth McKinsey Digital studio in Europe. With studios in London, Berlin, Budapest and Stockholm, McKinsey Digital has more than 500 digital, technology, design and analytics experts.
“In our studios, which are communities of McKinsey Digital experts, cross-functional teams help clients solve their toughest, game-changing challenges, often under very tight deadlines, working in a fast and agile manner,” explained Chris. Smith, a McKinsey. partner in London who helps run the network of McKinsey Digital studios in Europe.