BC Partners-backed Davies, a specialist professional services and technology business, serving insurance and highly regulated markets, completed the acquisition of Sionic, a global consulting firm. Financial terms were not disclosed. "I’m delighted to welcome Craig and the wider team to Davies. Sionic’s highly experienced consultants and technology experts are trusted by some of the world’s largest financial institutions and, like us, have been on a journey to expand internationally and invest in innovation for its highly regulated clients. The insurance market continues to undergo significant transformation, with businesses seeking to harness the power of automation and digital capabilities to create competitive edge, to streamline their delivery and service, and to manage operating costs. Diversifying our solutions and expanding our operations globally is an important plank to our growth strategy. Through the addition of Sionic we can become more valuable to our 1,000+ global insurance and highly regulated clients," Dan Saulter, Davies Group CEO.