M&A

Deloitte picks up German software service outfit innoWake

Deloitte has acquired Germany-based software services provider innoWake to add new IT, code and application modernization offerings in an effort to further help clients upgrade legacy systems.

Terms of the transaction were undisclosed and innoWake will be integrated into Deloitte's line of application modernization services. The firm also aims to spur investment in new digital, analytics and cloud tools among clients.

InnoWake works with clients to modernize legacy software code through a practice it calls automated refactoring, which involves the migration of old code and data in unison.

This deal comes as Congress moves on legislation to give federal agencies new funds for legacy IT system moderniziation initiatives. The $500 million Modernizing Government Technology Act passed in a House vote May 17 and awaits Senate action.

With innoWake, Deloitte seeks to expand work for clients in deployment of applications to cloud or mobile-based platforms and also integrate those apps with analytics, security and enterprise content management systems.

Deloitte's New Venture Accelerator organization estimates 60 percent of all business transactions run in legacy software languages.

About the Author

Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at rwilkers@washingtontechnology.com. Follow him on Twitter: @rosswilkers. Also find and connect with him on LinkedIn.

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