DEALS &WINS EY split halted as Project Everest proves too steep... for now

EY has halted its plan to divide its auditing and consulting divisions after the American portion of the firm “decided not to move forward with the design of Project Everest”.

In an internal note that the EY global leadership team sent to partners, shared with ERP Today, it was stated that the firm would be pursuing a different deal.

It follows ongoing disagreements, with EY US auditors campaigning for a larger slice of the tax practice post-divide and Julie Boland, EY’s US chair and managing partner, and the wouldbe-CEO of the audit business post-split, calling for a rework of the deal, pausing progress.

EY’s global executive team has stated an ongoing commitment to “creating two worldclass organizations that quality, independence and client choice”.

The internal note stated: “We always knew Project Everest would be a challenging journey. We acknowledge the challenges with separating in a way that gives both organizations the capabilities they need to compete in the market effectively. We also recognize that we need more time to make the necessary investments to prepare the businesses for a separation.” spent on the project so far and a large team has been engaged in planning the summit. Financial supervisory bodies across the US, UK and Europe have raised concerns that large accounting firms cannot fairly serve as joint auditors and consultants for clients. It follows news that EY has received a two-year tender ban and €500,000 fine issued by Germany’s accounting watchdog after being named the 2016-2018 auditor for Wirecard

Samsara Bags 40 Percent Growth For Third Consecutive Quarter

Samsara’s Q1 total revenue reached $204.3m, up 43 percent YoY, and ARR was $856.2m, up 41 percent YoY, together delivering Samsara’s third consecutive “rule of 40” quarter.

Q1 saw a record 138 large customers, bringing a total 1,375 customers with ARR over $100,000, up 53 percent YoY.

For Q2, Samsara expects a $206m$208m revenue, and has increased its expectations to $866m-$874m revenue for the full financial year.

Samsara also announced that ex-ServiceNow CSO Lara Caimi will join as president of worldwide field operations.

Deltek appoints ex-Oracle VP Dinakar Hituvalli as CTO

Deltek has appointed Dinakar Hituvalli as chief technology officer.

Hituvalli brings decades of experience, having previously spent 25 years at Oracle, most recently serving as group vice president of product development. Previously, Hituvalli was responsible for the product roadmap for cloud ERP applications. In this role, Hituvalli oversees the engineering and cloud operations teams and will report directly to Mike Corkery, Deltek’s CEO. He hopes to drive continued growth and innovation across global ERP solutions.