If you can’t beat ‘em, join ‘em.
That time-tested adage is just as relevant now as ever, especially after the game-changing decision from law firm MinterEllison to acquire technology consulting firm ITNewcom.
In their new role within their parent company, ITNewcom will help to complement MinterEllison’s existing technology offering, as well as forming part of the newly-launched MinterEllison Technology Consulting practice.
This is the first such transaction in this space, and signals that industries are becoming increasingly interwoven in today’s complex and amalgamated workforce.
Andrew Cunningham, MinterEllison’s Innovation Leader and new leader of the firm’s Consulting Solutions practice, spoke on the benefits that the merger will present.
“Joining ITNewcom’s complementary expertise with our existing market-leading technology practice will allow us to deliver seamless integrated consulting and legal solutions to clients seeking sophisticated technology outcomes.”
As technology has become a vital part of every company’s identity, some industries have found it hard to adjust their business model and customer offering to include the regular use of it.
The legal profession may be seen as lagging behind in the technological revolution by some, especially in relation to the financial, healthcare and transport industries.
Not only has MinterEllison ‘future-proofed’ their company, ensuring that they will not be left behind with this bold move, but they’ve also provided a snapshot into what the future of work will look like.
Companies such as Uber have branched out from simply offering ride-sharing to now entering the food delivery market.
Amazon has expanded from an e-commerce platform to have a significant presence in the e-reader, music streaming, video-on-demand and AI personal assistant industries, as well as recently entering into grocery delivery as well.
Clearly, it’s no longer viable for companies to occupy one space – organisations need to expand their knowledge base and reach customers outside of their traditional scope.
Moving forward, we very well may see similar moves of cross-industry acquisition. MinterEllison has certainly set a precedent by acquiring ITNewcom, and now the ball is in everybody else’s court to answer back with an equally disruptive move.