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| April 12, 2007 |
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| HITACHI CONSULTING ACQUIRES UK BUSINESS AND IT CONSULTING FIRM, IMPACT PLUS |
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| London-based Consultancy adds depth to Hitachi Consulting Financial Services Sector and Public Sector Practices |
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London, April 12 — Hitachi Consulting, the global business and IT consulting arm of Hitachi, Ltd., (NYSE:HIT) today announced that it has acquired Impact Plus, a London-based business and IT consulting firm which specializes in serving the Public Sector and Financial Services Sector. Impact Plus counts among its clients three of the top five UK-based banks, as well as many leading Finance & Leasing, General Insurance, and Life & Pensions providers. In the government sector, Impact Plus' clients include the largest government departments and agencies as well as the Cabinet Office, HM Treasury and the National Audit Office.
Impact Plus offers valued business and IT consulting services to its clients in the areas of Customer Strategy, Sales Effectiveness, Operational Performance, Technology Exploitation, Program & Change Management, Regulation & Compliance, and Mergers & Acquisitions.
"Joining with Hitachi Consulting allows us both to offer our existing clients greater capacity and a richer blend of capabilities and to extend our services to a broader marketplace," said David Bailey, co-founder and joint managing director of Impact Plus. "Through Hitachi Consulting's strength in both the United States and in Asia, we can now serve better the global needs of our clients." Mr. Bailey will become managing vice president – Industry & Markets for the UK practice. He will have primary responsibility for Hitachi Consulting's industry programs for the UK as well as lead its Go-To-Market team. Mr. Bailey has 17 years at executive level in the consulting industry and was recently President of the UK Management Consultancies Association.
Impact Plus' other co-founder, Andy Miller, will be leaving the business after handing over his responsibilities. "My retirement from Impact Plus has been planned for years, so this is no surprise to our staff," said Mr. Miller. "Whilst I have enjoyed my 17 years immensely, I have plans to achieve other things in my life. I wish my colleagues every success."
Allan Duguid, currently responsible for Impact Plus' work in the Public Sector, will become vice president, Public Sector. Prior to joining Impact Plus, Mr. Duguid spent 20 years with an international management consultancy where, as partner / vice president, he led the business units responsible for Government and for Aerospace & Defense. Alan Walker, vice president, will lead the Financial Services Sector practice.
"We are excited about the addition of great personnel, clients and capabilities in the U.K., and we are already integrating the Hitachi Consulting-U.K. consulting team with the ImpactPlus team to better service our joint clients and the market," said Jim Schuchard, Hitachi Consulting-Europe chief operating officer. "With more than 80 consultants now in the UK and eight experienced vice presidents, Hitachi Consulting is well positioned to serve our UK based clients as well as the needs of our global clients in the UK."
In the combined organization, executives from both Impact Plus and Hitachi Consulting - UK will have significant leadership roles. In addition to Mr. Bailey leading the Industry & Markets initiatives, Charles Reekie, who was involved in the start-up of Hitachi Consulting – UK's operations one year ago, will be responsible for the Company's Solutions and Services. In this role, Dr. Reekie will focus on further developing specific solution areas including Knowledge and Program Management, Business Intelligence and Operational Effectiveness and will also continue to lead efforts on select accounts in the Public Sector.
"Now that our business here in the UK is established, adding the proven capabilities of Impact Plus is the next critical step in our growth plan," said Michael Travis, president and CEO for Hitachi Consulting. "The two companies are well aligned in terms of targeted industries and our portfolios of consulting capabilities are very complementary. There is also a strong cultural fit between the two companies."
Hitachi Consulting began operations in Europe in March of 2006 with offices in London, Madrid, Barcelona and Lisbon. Earlier this year, an office in Frankfurt was also opened.
| About Impact Plus |
Impact Plus was formed in 1990 and is a specialist, independent business and technology consultancy. Its mission is to make a positive impact on the business of its clients, shaping and delivering change in partnership with them. The firm focuses principally on the Financial Services Sector and the Public Sector.
Impact Plus has an enviable reputation for delivering independent, practical, value-for-money advice to its chosen market sectors. In a recent externally-run survey, over 70% of its clients rated Impact Plus a full five stars for overall quality and value for money with the remainder all rating it four stars.
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| About Hitachi Consulting |
As Hitachi, Ltd.'s (NYSE: HIT) global consulting company, Hitachi Consulting is a recognized leader in delivering proven business and IT solutions to Global 2000 companies across many industries. With more than 1500 consultants across the U.S., Europe and Asia, we leverage decades of business process, vertical industry, and leading-edge technology experience to understand each client's unique business needs. From business strategy development through application deployment, our consultants are committed to helping clients quickly realize measurable business value and achieve sustainable ROI.
Hitachi Consulting's client base includes nearly 35 percent of the Fortune 100 and 25 percent of the Global 100 as well as many leading mid-market companies. We offer a client-focused, collaborative approach and transfer knowledge throughout each engagement. For more information, call 1.877.664.0010 in the US and +44 (0) 870 850 6669 in the UK or visit www.hitachiconsulting.com.
Hitachi Consulting -- Inspiring your next success! ® |
| About Hitachi, Ltd. |
| Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 356,000 employees worldwide. Fiscal 2005 (ended March 31, 2006) consolidated sales totaled 9,464 billion yen ($80.9 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company's website at http://www.hitachi.com. |
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| Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice. |
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