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.”