The deal will increase the Big Four firm’s capacity to advise chief executives and boards on protecting and managing their brand and reputation risks.
The acquisition is a first for Deloitte Advisory, the risk and financial advisory practice that was set up earlier this year. LRA will join the strategic risks services arm and will be known as LRA by Deloitte.
“Brand and reputation risk are among the most important risks with which CEOs are grappling,” said Deloitte strategic risk services leader Mike Kearney.
“Together with LRA, we can help clients address such challenges with confidence and provide them the tools and insights to protect the unique value of their organisations and promote a consistent brand and customer experience."
He added that the firm intended to grow its strategic risk services market offering as one of the most significant focuses for Deloitte Advisory and its clients’ businesses.
LRA chief executive Rob Rush said that joining forces with Deloitte would enable the business to take advantage of Deloitte’s global reach, services and capabilities.
Deloitte said that, as well as LRA, it intends to make other critical investments “to enhance the value” the firm delivers to “clients and the global markets and industries they serve”.