In efforts to add momentum to the growth of its technology practice, consulting and advisory firm PricewaterhouseCoopers (PwC) has acquired technology law firm, Chetty Law, for an undisclosed sum.
Chetty Law, established in 2007 by Pria Chetty, will officially be part of PWC on 1 September. Chetty says the firm was in efforts to promote and provide specialist legal services in the realm of technology in Africa, especially SA.
PwC says it is growing and enhancing its technology practice both locally and globally, and has recognised that there is a gap in its current solution offering. This has been addressed by introducing a Technology and Innovation Legal practice area within PwC's service range.
According to PwC, the new practice will deliver its service offering in the upcoming months but is certain that it will also service business and ICT for development sector, as part of its strategy moving forward.
The consultancy firm says the legal liabilities attached to advances in technology are increasingly becoming topical on the corporate agenda. The introduction of various new technology laws that regulate access and activity on the Web, social media and smart devices, has seen the demand for specialised technology legal services increase, it adds.
Mark O'Flaherty, partner at PwC SA says the firm is pulling all of its technology practices together under one umbrella “so that when we go to the market, we go in as a single technology practice that is able to offer one holistic solution that is backed by long-established skills and expertise.”
According to the Web and digital media lawyer, Paul Jacobson, this is an interesting deal. The purchase will give Chetty and her team access to PwC's client base and that is always a great opportunity, he points out.
Through the acquisition, he says PwC has positioned itself to compete against technology law firms as well as other consulting businesses like Deloitte. “If anything, it makes the space a lot more interesting and emphasises the importance of adequately addressing technology related legal risks.
“As for the broader profession, I am curious to see whether this sparks a series of similar acquisitions in the space where large consulting firms acquire niche legal services businesses to provide those services to their clients.
“Bear in mind that virtually all major law firms in the country have IT law departments which compete with smaller, niche firms,” he says.
However, he says this is not unprecedented. Chetty's former employer and known IT firm, Buys Incorporated was acquired by Deloitte several years ago and incorporated into its legal practice, he points out.
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