FTI Consulting is in talks to acquire Dubai-headquartered consultancy and technology, media and telecommunications (TMT) sector specialist Delta Partners, sources close to the situation told Bloomberg.
According to the people, who asked to remain anonymous as the talks are confidential, the two started discussing a potential tie-up before the coronavirus pandemic started impacting the global markets.
Delta has spent the last several years looking for a strategic partner but is keen to retain management control on making strategic decisions, they noted.
The sources added there is no guarantee the talks would result in FTI striking a deal that would let it increase its offerings in the TMT sector while supporting the Dubai-based company’s plans to expand its operations.
Delta has offices in key hubs in the UAE, South Africa, Spain, Singapore, Australia and the US, according to its website.
The company says it is a “bridge for ideas and capital between the developed and developing markets, and between the telecoms sector and the digital world”.
It has three integrated business lines, comprising management consulting, corporate finance and investments.
FTI is a global business advisory firm that helps organisations manage change, mitigate risk and resolve disputes: financial, legal, operational, political and regulatory, reputational and transactional.
Clients include Fortune 500 corporations, FTSE 100 companies, global banks, major law firms, and local, state and national governments and agencies around the world.
Along with operations in the Americas and Asia and the Pacific, it has 26 offices across Europe, the Middle East and Africa, in countries such as the UK, the UAE, Qatar.
Zephyr, the M&A database published by Bureau van Dijk, shows 2,088 deals worth an aggregate USD 158.73 billion targeting the banking, insurance and financial services sectors have been announced in 2020 to date.
The largest transaction focused on a company based in the Middle East features Kuwait Finance House revealing plans to acquire Ahli United Bank for USD 11.31 billion.
© Zephus Ltd