Hitachi acquires Prizim to enhance sustainability consulting
The consulting arm of technology giant Hitachi has announced plans to beef up its sustainability-related services through the acquisition of US-based consultancy PRIZIM Inc.
Hitachi Consulting, which specializes in IT services and management consulting, said that it had completed the acquisition of the 45-strong Maryland-based PRIZIM for an undisclosed sum, providing the company with an enhanced portfolio of environmental assessment and auditing, sustainability training, and consulting services.
"We are seeing an exciting trend where more companies are recognizing that sustainability can be a business driver to increased revenue, improved operating margins and recurring cost savings," said Todd Price, senior vice president of Hitachi Consulting's Environmental Sustainability Solutions practice in a statement.
The company added that PRIZIM would also provide Hitachi with a route into a wide range of clients, particularly in the public sector, while supporting the technology giant's company-wide social innovation and smart cities initiatives.
The deal is the latest in a string of acquisitions in the consultancy space that looks set to continue as the market consolidates and global consultancy firms look to beef up their green practices.