CHICAGO--(BUSINESS WIRE)--BDO USA, LLP, one of the nation’s leading accounting and advisory firms, today announced the asset acquisition of Lootok, a crisis management and business continuity consulting and technology firm headquartered in New York. The acquisition of Lootok bolsters BDO’s proactive risk management capabilities, offering clients an end-to-end suite of services across the risk continuum.
Founded in 2006, Lootok integrates military models, cognitive science, design thinking and game theory with industry risk management standards to create new ways of understanding the disciplines of business continuity, crisis management, and enterprise risk management. Lootok helps organizations of all sizes and industries transform their risk programs through risk assessment, program design, self-service technologies, and activity-based learning and engagement.
“We are pleased to add the impressive resources of Lootok to our advisory offerings to address the diverse needs of our clients,” said Jay Duke, national managing partner of Advisory Services at BDO USA. “In today’s rapidly evolving risk environment, risk managers need a new toolset and a modernized, nonlinear business continuity program. Lootok brings an innovative, proactive approach to building business resiliency that will complement BDO’s existing business continuity services.”
The acquisition of Lootok was effective as of January 1, 2019. Bentley Associates L.P. (“Bentley”), a New York based boutique investment bank, acted as Lootok’s exclusive financial adviser on the transaction. Lootok CEO Sean Murphy has joined the firm as Managing Director and will lead BDO’s Crisis Management and Business Continuity practice. The professionals of Lootok have also joined BDO and are now based in BDO’s 100 Park Avenue office in New York City.
“For the last 12 years, we’ve helmed the revolution in business continuity planning for the modern threat environment, developing cutting-edge concepts and technologies. Joining BDO provides us with a wider platform to solve problems for our clients across the full spectrum of resiliency and opens up new avenues for risk management innovation,” said Murphy. “By working together, we will help clients elevate their risk management programs to the next level and increase agility in the face of disruption.”
- Over the past six years, BDO USA’s cumulative growth rate has far outpaced all other major U.S. accounting firms, with revenues more than doubling from $618 million in 2012 to $1.47 billion in 2018. During that time, BDO entered 24 new U.S. cities and expanded its critical mass in 13 existing markets.
- BDO represents companies ranging from closely-held private businesses to leading nonprofits to Fortune 500 multinationals.
- BDO USA has industry practices specialized in serving businesses in the construction, energy, financial institutions, asset management, government contracting, healthcare, insurance, manufacturing, nonprofit, private equity, real estate, restaurant, retail and technology sectors.
- BDO has been named a Best Company by Working Mother Magazine for eight consecutive years and been recognized with the When Work Works Award for Business Excellence in Workplace Flexibility for nine consecutive years.
- BDO has more than 60 offices and more than 650 independent alliance firm locations around the country.
- BDO USA has been serving clients for more than 100 years since its founding in 1910 (as Seidman & Seidman).
- As an independent member of BDO International Limited, the firm can leverage the resources of more than 73,000 people in 1,500 offices across 162 countries.
About BDO USA
BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, and advisory services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 60 offices and over 650 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of more than 73,000 people working out of 1,500 offices across 162 countries.
BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com.