Current Consulting Group acquires Sphere State

Hong Kong, 12th of May 2021 – For immediate release

PRESS RELEASE

Hong Kong management consulting firm Current Consulting Group has acquired Security advisory firm and online professional learning platform Sphere State, based in New York City

The acquisition broadens Current Consulting’s operational reach of into the U.S. and access to the global online learning market through the Sphere State platform.

Under interim Director, Ilya Umanskiy, Sphere State will continue its focus on comprehensive security assessments and execution of other projects in North America

CURRENT CONSULTING GROUP ACQUIRES SPHERE STATE

Current Consulting Group, a rapidly growing independent management consulting firm with practices in business intelligence, supply chain advisory, and resilience, today announced it has completed the acquisition of the US security advisory firm and online professional learning platform, Sphere State, bringing a unique continual learning platform focused on the security industry into Current Consulting’s 企业韧性 practice.

“Current Consulting Group is growing, and we are actively searching for opportunities to expand into strategically important markets and to broaden our professional service capabilities to our clients”, says Anders Bäckström, Chairman of Current Consulting Group. “Acquiring Sphere State provides not only the opportunity to strengthen our operations in the important North American markets, but it also gives our group an agile learning platform with a passionate community of security professionals in US and beyond. Together we hope to inspire and transform the way young and aspiring practitioners enter and grow in the security industry, delivering powerful advice, insights and practical tools for practitioners of every skill level.”

“Our clients often face challenges which connect Asia and the US. In our work on M&A and fraud investigations especially we’ve seen the need to have an operational office in the US to support our head office in Hong Kong and our operational field offices in Shanghai and Shenzhen”, says Björn Wahlström, Managing Director of Current Consulting Group. “We’re also looking forward to working closely with the existing Sphere State clients in the US. In the mid-term, Sphere State addresses those needs, and adds hugely to our capacity to operate complex international cases. We are also very excited to expand into the market of online learning, an area that’s been neglected in security for a long time. In that sense, I see Sphere State as an incredibly exciting start-up in a market that’s just starting to take off.”

“Today marks the beginning of an exciting new chapter for Sphere State. The way forward for the field of security is to focus on asset management, psychology, and design through education platforms on a global scale,” says Ilya Umanskiy, Founder and Principal of Sphere State.  “As part of Current Consulting Group, we will be able to accelerate our mission and enable more young and aspiring security practitioners through the challenges and possibilities on their journey to excellence.”

SPHERE STATE INC.

Sphere State is a Delaware registered company operating primarily out of New York City. Sphere State handles security assessments and asset protection consulting with a specific focus on non-profit organizations around the U.S. As an extension of Current Consulting Group, Sphere State will also be taking on more investigative work in the U.S.

Ilya Umanskiy, a Partner and Director with Current Consulting Group, will lead Sphere State as Interim Director and will split his time between Hong Kong and New York.

For more information about Sphere State, visit www.spherestate.com

CURRENT CONSULTING GROUP

Current Consulting Group is an independent management consulting firm, specializing in supply-chain advisory, business intelligence, and resilience in East and Southeast Asia. The group is headquartered in Hong Kong, with operational offices in Shanghai and Shenzhen.

Current Consulting offers tangible advice and hands-on support, assisting clients with actual implementation of our recommendations. Our team consists of experienced risk management professionals.  We take pride in our in-depth knowledge across a broad spectrum of industries, ranging from automotive and electronics to IPO preparations, M&A’s, and cryptocurrencies.

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