06 Jul EY and Fabernovel join forces to accelerate the convergence of digital and ecological transitions
Paris, July 6, 2022 – EY announced today that it has completed the acquisition of Fabernovel, a leading provider of consulting services for digital transformation and the creation of innovative services. Its ambition is to become the leader in the convergence of digital and ecological transitions in Europe.
Through this strategic merger, EY and Fabernovel are strengthening their respective positions as leaders in strategic transformation and innovation consulting. Together, they will continue to work with large organizations and start-ups alike to promote more resilient business models that reconcile societal and environmental challenges with economic performance. Together, EY and Fabernovel are expanding their value proposition to develop innovation at scale and make it a lever for differentiation and sustainable value creation for organizations. They draw on their multidisciplinary expertise, creativity and entrepreneurial spirit to help their clients design, build, articulate and leverage three key competitive advantages in the new economy: vision (strategy, offering, business and operational models), culture and new skills, development of technological assets and data.
“Today we are faced with two unavoidable and complementary transitions: the ecological transition on the one hand and the digital transition on the other. At Fabernovel, our challenge from now on will be to multiply our impact thanks to a more powerful and international EY network. Joining EY means seizing the opportunity to better contribute to a new stage of the European economy while continuing to be inspired by the models of the tech giants that we have relentlessly shared. It also means leveraging 19 years of research and projects to give wider expression to our values, our teams and our brand so that they become major competitive advantages for our customers and our ecosystem” explains Stéphane Distinguin, founder and chairman of Fabernovel.
An entrepreneurial culture to meet these major challenges
“Fabernovel was built on a strong entrepreneurial culture that is fully in line with the investments made by EY Consulting over the past 8 years to become the leading consulting firm in Europe” explains Bertrand Baret, Managing Partner of EY Consulting France & Deputy Managing Partner of EY Consulting Europe West. “We are convinced that Fabernovel’s capacity for innovation and unique know-how are a major differentiator in accelerating our growth and that of our clients, by developing the competitiveness of the organizations we support in these vital transitions”.
A merger to scale up high-impact projects
EY’s recent investments, including the acquisition of Greenwich Consulting, Bluestone Consulting, OC&C Strategy, Cognistreamer and Kalydia have enabled us to become the market leader in consulting in France. With the acquisition of Fabernovel, EW and EY France will further strengthen its market position and reinforces our focus on innovation. Recently, 35 EY Lab centers dedicated to R&D have been opened around the world and a number of strategic alliances with major technology players, such as SAP, IBM and Microsoft, have been concluded.
A strategic project, the EY Sustainability Lab in Paris, on the premises of Fabernovel
To serve these strategic and operational ambitions, the merger of EY and Fabernovel will be accompanied – by the end of 2022 – by the creation of an open innovation space dedicated to sustainable and responsible digital technologies. Located in Fabernovel’s offices on rue Saint-Lazare in Paris, this space will be both a demonstrator of sustainable technologies and a place for cooperation between public and private organizations wishing to act now for a better future.
Bringing together consultants, experts, designers, engineers and entrepreneurs, the EY Sustainability Lab will be a mechanism for the design and execute technological, environmental and economic transformations.
Summing up the merger between EY and Fabernovel, Bertrand Baret concludes: “As a market leader in digital transformation, combining consulting and the creation of innovative products and services, Fabernovel is the ideal partner to achieve the ambition of our NextWave strategic plan in Europe. Fabernovel’s 350 talents, combined with EY highly complementary skills, will become the foundation of this transformation, with an ambitious goal of building a world-class, multidisciplinary team of 1,000 innovation-focused employees within three years”.
“Within EY, Fabernovel will be able to accelerate and internationalize its strategy to grow with its clients’ most ambitious transition projects. This is an exceptional opportunity for Fabernovel to do what it recommends to its clients and asks of its teams: to change in order to continue to innovate, to better apply its expertise and values to new markets and thus to contribute to the convergence of the models of consulting firms, agencies and ESNs, which Fabernovel pioneered,” explains Stéphane Distinguin, founder and chairman of Fabernovel.
“This merger with Fabernovel is an absolutely major strategic development for EY. This is a unique opportunity for growth and for combining the expertise that is crucial for our clients. Our teams, whose cultures are both very similar and complementary, will be able to experience an incredibly enriching human adventure in the service of innovation and high-impact projects,” concludes Eric Fourel, Managing Partner EY France.
The merger in a few figures:
- 80% of CAC 40 companies have been clients of Fabernovel since its creation.
- The “Talent Company” is at the heart of FrenchTech: over €200 million has been raised by start-ups created by Fabernovel alumni.
- Present on three continents: in Europe – in Paris, Lyon, Nantes, Toulouse, Bordeaux and Lisbon, in the United States in San Francisco, and in Asia in Shanghai and Singapore, Fabernovel now has 350 employees and is currently recruiting nearly 50 new talents.
- Fabernovel recently acquired the company 31Ten to develop its technological expertise in Asia.
- In France, 1,200 professionals are currently contributing to the growth of more than 25% of EY Consulting’s sales in a dynamic market, since 1 July 2021.
Joachim Martin, PR Communication Manager