Grant Thornton LLP purchases assets of Dallas-based firm Avalion Consulting LLC
CHICAGO, May 13, 2010 – Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations, has purchased assets of Dallas-based IT consulting and software solutions firm Avalion Consulting LLC. The transaction, which falls under Grant Thornton’s Business Advisory Services (BAS) group, comprises two partners; Avalion’s IT consulting staff; and its IT and governance, risk and compliance (GRC) intellectual property, including Avalion’s patented GRC software solution – ComplianceSet (R).
“Avalion is a great fit for Grant Thornton in many ways,” said Paul Kanneman, national managing principal of Grant Thornton’s BAS group. “They share the same passion we have for exceptional client service and have a similar corporate culture. I also believe this transaction not only demonstrates Grant Thornton’s commitment to our GRC and IT consulting practices, but also shows that we are investing in these important business units to meet the renewed demand in the marketplace.”
ComplianceSet (R) is a patented, comprehensive Software as a Service (SaaS) solution that serves as the technical foundation for a process-based approach to GRC requirements, including Sarbanes-Oxley Act (SOX) compliance, internal audit and enterprise risk management. It provides client management with a real-time portal view into a company’s system of internal controls for financial reporting. The ComplianceSet (R) application uniquely incorporates proven SOX compliance thought leadership, best practices and process-based tools (e.g., work approaches, methodologies, accelerators, and training materials) that help companies manage and measure the ongoing compliance process.
Noted John Gutierrez, former vice president of Avalion, now a Grant Thornton BAS principal, “Grant Thornton clients around the country will be able to take advantage of the ComplianceSet (R) software. This will enable them to manage their internal audit, SOX and other compliance processes more efficiently and effectively.”
“We are excited to join Grant Thornton LLP because they provide us with an exceptionally strong national and international distribution platform for our ComplianceSet (R) SaaS solution,” said Blake Sellers, former president and CEO of Avalion, now a BAS principal with Grant Thornton. “On a regional level, we also see tremendous synergies with our IT, business analytics and performance improvement consulting capabilities. Additionally, this provides excellent career-growth opportunities for our professionals.”
“This transaction will result in a significant increase in our consulting capabilities in the Central Region, including IT program/project management, business intelligence and systems integration,” said Michael Bennett, Grant Thornton partner and the Central Region BAS practice leader. “Our clients will benefit from this additional depth of experience because it will help them solve their unique business challenges with IT-enabled solutions – particularly as market conditions improve, and they begin to undertake major change initiatives to renew their technology infrastructure and core business capabilities. The timing of this transaction couldn’t have been better.”
To learn more about ComplianceSet (R), go to www.GrantThornton.com/ComplianceSet.
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The people in the independent firms of Grant Thornton International Ltd provide personalized attention and the highest quality service to public and private clients in more than 100 countries. Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations. Grant Thornton International Ltd and its member firms are not a worldwide partnership, as each member firm is a separate and distinct legal entity.
In the U.S., visit Grant Thornton LLP at www.GrantThornton.com.
