Danny McCance 15 May 2017 05:16pm

McLaren and KPMG end tie-up seven years early

The technology arm of McLaren today announced a new partnership with Big Four rival Deloitte

The announcement from McLaren means that a 10-year deal - to develop tech and data analytic tools - with KPMG has ended after just three years.

Philip Davidson, managing partner at KPMG UK, said it was a “mutual decision with McLaren to end our formal alliance".

He added, “We intend to continue to work with McLaren on a range of client engagements across 2017 and beyond.” It is understood there was a pre-agreed break clause in the deal.

The Deloitte partnership will create 150 new jobs based mainly in a joint London headquarters, expected to open in early 2018.

McLaren Applied Technologies and Deloitte will develop data-driven business products, which they say will generate an annual benefit of £1bn for their clients by 2022.

“McLaren has a proven record of successfully applying their technologies to real-world business situations across a range of sectors.

“By combining this with our own global digital advisory experience, today’s announcement is the start of an exciting move for both firms to create revolutionary data-driven products for our clients”, Mike Dobby, vice chairman and senior consulting partner at Deloitte, said.

Today it was also revealed that BAE Systems will replace KPMG with Deloitte as auditors.