Big Four accounting firm PwC said on Aug. 6 that it will acquire Kunai, a boutique software consulting firm that specializes in artificial intelligence, cloud-first web, mobile, and infrastructure platforms for the financial services industry.
Financial terms of the deal weren’t disclosed. The proposed acquisition is subject to customary closing conditions.
PwC said the acquisition aligns with its commitment to helping clients “reach the leading edge of their industries by combining deep expertise with powerful technology-driven and innovative solutions.” The addition of Kunai’s expertise enables PwC to scale existing offerings in the financial services space, specifically strengthening its engineering capabilities into existing and new banking clients, to accelerate growth and provide critical capabilities.
“The acquisition of Kunai accelerates our strategy to lead in tech-enabled transformation within the financial services sector,” Tyson Cornell, PwC US Advisory leader, said in a statement. “By acquiring Kunai, we’re enhancing our ability to deliver engineering-led solutions that combine deep financial domain knowledge with agile, scalable technology. This move positions PwC to meet growing client demand for end-to-end transformation services—helping banks and financial institutions modernize core systems and embrace AI so they can unlock new value at speed and scale.”
Founded in 2015, Kunai is an integrated team of product managers, software engineers, and designers with vast experience building for every major use case in fintech. The San Ramon, CA-based company builds full-stack technology solutions for banks, credit and payment networks, infrastructure providers, and their customers.
“Joining forces with PwC represents an exciting new chapter for Kunai,” said CEO Sandeep Sood. “With access to PwC’s extensive resources and global network, we’re poised to accelerate innovation and amplify the impact we deliver to clients. Together, we’ll be a stronger product-building strategic provider in financial technology—expanding our reach, deepening our offerings, and driving smarter, faster solutions that help financial institutions thrive in a rapidly evolving digital economy.”
Kunai’s work with leading financial institutions and payment networks has allowed it to create solutions to many of the industry’s biggest technological challenges. Kunai brings to PwC a number of core competencies, including:
- Mobile and web product development
- AI and automation
- Cloud engineering
- Data engineering
- Core banking systems
The pending deal builds on the Big Four firm’s recent strategic acquisitions, such as Surfaceink, Sagence, Netrovert, ACTS, and EagleDream.
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