Alceon Acquired Majority Stake in Engage Squared
The investment firm purchased a majority stake in the technology consultancy for $36 million.
Updated on Sept. 30, 2026 in Business Strategy
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Alceon has acquired a majority stake in the consultancy Engage Squared for $36 million. The investment marks the first move from Alceon’s $100 million Private Equity Access Fund to drive expansion across the Asia Pacific region.
Why it matters
The deal aims to accelerate the growth of Engage Squared across the Asia Pacific market and bolster the firm's artificial intelligence capabilities. This partnership provides the capital necessary for the company to pursue geographic expansion and further investment in its workforce.
Alceon paid $36 million for its majority interest in Engage Squared, a firm that currently supports 170 consultants and technicians across eight offices. This represents the inaugural investment for Alceon’s $100 million Private Equity Access Fund.
The players
Alceon
Alceon is an investment firm that recently launched a $100 million Private Equity Access Fund.
Engage Squared
Engage Squared is a technology consultancy founded in 2014 that employs 170 staff members.
Alastair Cashen
Alastair Cashen is a co-founder of Engage Squared who was recently appointed as the firm's group CEO.
Claudia Piscitelli
Claudia Piscitelli is the executive general manager for Australia at Engage Squared.
Stephen Monk
Stephen Monk is an outgoing official who will depart his position at Engage Squared.
The details
Engage Squared operates across Australia, New Zealand, and Japan, with its headquarters located in Melbourne. As part of the leadership transition, Alastair Cashen has been appointed group CEO, while Claudia Piscitelli takes on the role of executive general manager for Australia.
Timeline
Engage Squared was founded in 2014.
Alceon sold its interest in efex to Advent Partners in 2025.
The acquisition of the majority stake in Engage Squared occurred in September 2026.
Market Landscape
This deal underscores the ongoing trend of private equity firms aggressively deploying capital to scale technology service providers within the Asia-Pacific region. By securing this majority stake, Alceon positions itself to capture greater market share in a fragmented consultancy landscape.
The investment ensures that existing clients of Engage Squared will see continued support as the firm expands its staff and artificial intelligence offerings. Customers can expect a broader range of technical capabilities as the company leverages this new capital for growth.
The takeaway
The move signals a strategic shift for the consultancy toward broader regional dominance and advanced digital services. Investors and industry peers should monitor how the integration of new capital influences service delivery timelines and market expansion goals.
Further reading
For more on how firms evaluate growth opportunities, visit Business Strategy.
Source note: This article includes information reported by Consultancy.
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