Wavestone SA

What Wavestone SA does

Wavestone SA is a publicly listed European management and technology consulting firm headquartered in Paris and listed on Euronext Paris since 2000 under ticker EPA:WAVE. The firm delivers strategic transformation consulting across nine verticals (Banking, Insurance, Energy & Utilities, Automotive & Manufacturing, Government & International Institutions, Retail & Consumer Goods, Life Sciences, Travel/Transport & Logistics, and Wealth & Asset Management) through two capability pillars: tech-driven capabilities (AI & Data, Cybersecurity, IT Strategy & CTO Advisory, SAP Consulting, Software & Application Development & Integration, Industry 5.0 & IoT) and transformation capabilities (Business Strategy, Compliance & Risk, Customer Experience, Finance/Procurement/HR, Operating Model, Change Management, Program Leadership, Sourcing, Supply Chain, Sustainability). Named clients include Accor, Helvetia Group, Kistler, and Festo.

The firm operates 6,000+ employees across 17 countries on four continents (Europe, North America, Asia, Africa) following the transformational 2023 merger with Q_PERIOR AG (~€340M transaction value, adding ~€285M in acquired 2022 revenue). Wavestone monetizes through project-based professional services engagements with enterprise clients, priced on scope, duration, and team composition, typically under multi-year contracts. The firm also operates specialized brands (CERT-Wavestone for cybersecurity incident response, Shake'Up startup accelerator, Creadesk design), proprietary tools (PIA² for AI privacy impact assessment), and annual research benchmarks (Digital Workplace Radar, Global AI Survey, Femtech Barometer). Strategic alliances span SAP, Unisys/Uni Systems (EU FREIA framework), ANSSI, Bpifrance, and Femtech France.

For 2025/26, Wavestone reported +1% organic revenue growth, an expected 12.6% recurring operating margin, and +8% net income growth, alongside a planned recruitment of 1,000+ new employees in 2026. The company's growth strategy combines organic capability development (particularly around AI industrialization, agentic AI, and EU regulatory compliance including the AI Act, DORA, NIS2, and CSRD) with selective tuck-in M&A, illustrated by recent acquisitions of Wivoo (2025, digital product development) and Cœus Consulting (2022, UK CIO advisory).

Name

Wavestone SA

Legal name

Wavestone SA

Website

https://wavestone.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Wavestone SA is a Paris-headquartered, Euronext-listed European management and technology consulting firm employing 6,000+ people across 17 countries, delivering strategic transformation, cybersecurity, AI, and SAP advisory services to enterprise clients in banking, insurance, energy, government, and other regulated verticals.

Ownership category

akta.pro rank

Product category

Management Consulting Services

NAICS

Management Consulting Services (54161), Other Management Consulting Services (541618)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Strategy Advisory (BPAHADAA)

akta.pro secondary industries

ERP, CRM & Enterprise Applications Consulting (BPAHAEAI), Turnaround, Restructuring & Crisis Management Consulting (BPAHACAO)

Keywords

• Management consulting services
• Technology consulting
• Cybersecurity advisory
• SAP consulting
• Digital transformation consulting

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices20 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Management Consulting Services: Wavestone generates revenue through professional consulting services providing strategic transformation advisory across technology and business domains. Revenue is generated through project-based engagements with enterprise clients.
2. Technology Consulting: Revenue from specialized technology consulting including AI, Cybersecurity, SAP, and digital transformation services delivered through consultant engagements.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels10 records

Core offering

Wavestone SA is a management and technology consulting firm providing high-impact consulting through a comprehensive portfolio that blends deep industry expertise with advanced technology capabilities. Its service lines span Tech-Driven Capabilities (Artificial Intelligence & Data, Cybersecurity, Industry 5.0 & IoT, IT Strategy & CTO Advisory, SAP Consulting, Software & Application Development & Integration) and Transformation Capabilities (Business Strategy, Compliance/Risk/Resilience, Customer Experience, Finance/Procurement/HR, Operating Model, Change Management, Project Management, Sourcing, Supply Chain, Sustainability). The firm serves enterprise clients across Banking, Insurance, Energy & Utilities, Automotive, Manufacturing, Retail, Life Sciences, Government, and Travel/Transport & Logistics.

Product overview

Wavestone is a management and technology consulting firm offering a comprehensive portfolio of high-impact consulting services organized around two capability pillars: Tech-Driven Capabilities (Artificial Intelligence & Data, Cybersecurity, IT Strategy & CTO Advisory, SAP Consulting, Software & Application Development & Integration, Industry 5.0 & IoT) and Transformation Capabilities (Business Strategy & Transformation, Compliance/Risk & Resilience, Customer Experience/Marketing & Innovation, Finance/Procurement & HR, Operating Model Design & Operational Agility, Organization Effectiveness & Change Management, Program Leadership & Project Management, Sourcing & Services Optimization, Supply Chain, Sustainability). The firm also operates specialized programs and brands including CERT-Wavestone (cybersecurity incident response), Shake'Up (startup accelerator), Creadesk (design consulting), and proprietary tools such as PIA² for AI privacy risk assessment. Wavestone publishes annual research benchmarks including the Radar des startups françaises du Digital Workplace, Global AI Survey, and Femtech Barometer. The consulting offering spans 17 countries across Europe, North America, Asia, and Africa, serving industries including Banking, Insurance, Energy & Utilities, Automotive, Manufacturing, Retail, Life Sciences, Government, and Travel/Transport & Logistics.

Differentiator

Problem solved

Functional benefit

Brands

• CERT-Wavestone: Cybersecurity services division providing security incident response and monitoring
• Creadesk
• Shake'Up

Products and services

• Artificial Intelligence & Data AI and data consulting practice covering strategy, implementation, and industrialization of AI solutions including generative AI, agentic AI, and data-driven transformation across industries.
• Cybersecurity End-to-end cybersecurity consulting including strategy, governance, risk management, protection, detection, response, and recovery aligned with NIST Cybersecurity Framework.
• IT Strategy & CTO Advisory IT strategy and technology advisory services helping organizations align technology decisions with business objectives, including CIO/CTO advisory, digital transformation roadmaps, and tech-driven growth strategies.
• SAP Consulting SAP implementation and advisory services covering S/4HANA migration, SAP BTP integration, SAP Joule/agentic AI deployment, Clean Core strategy, and SAP Autonomous Enterprise transformation.
• Software & Application Development & Integration Custom software development, application integration, and digital product engineering services, including solutions delivered through the acquired firm Wivoo.
• Industry 5.0 & IoT Industrial IoT and Industry 5.0 consulting services for connected systems, smart manufacturing, and IoT-driven operational transformation.
• Business Strategy & Transformation Strategic consulting for business model transformation, growth strategy, and end-to-end organizational change management.
• Compliance, Risk & Resilience Regulatory compliance, risk management, and business resilience consulting covering GDPR, EU AI Act, DORA, NIS2, CSRD, and sector-specific regulatory requirements.
• Customer Experience, Marketing & Innovation Customer experience design, marketing strategy, and innovation consulting to enhance customer journeys, personalization, and digital engagement.
• Finance, Procurement & HR Corporate finance, procurement optimization, and HR consulting services including workforce transformation and talent management.
• Operating Model Design & Operational Agility Operating model redesign and operational agility consulting to restructure organizations for digital-era efficiency and adaptability.
• Organization Effectiveness & Change Management Organizational effectiveness and change management consulting to help enterprises manage workforce transitions, cultural change, and capability building.
• Program Leadership & Project Management Program and project management consulting for large-scale transformation initiatives, ensuring delivery, governance, and stakeholder alignment.
• Sourcing & Services Optimization Strategic sourcing, vendor management, and services optimization to improve cost efficiency and supplier performance.
• Supply Chain Supply chain transformation consulting including resilience, efficiency, AI-driven forecasting, and end-to-end logistics optimization.
• Sustainability Sustainability and ESG consulting covering CSRD reporting, carbon footprint analysis, ESG strategy, and sustainable business model transformation.
• CERT-Wavestone Wavestone's Computer Emergency Response Team providing cybersecurity incident detection, analysis, response, and threat intelligence services.
• Shake'Up Wavestone's startup accelerator program supporting innovation and early-stage ventures in the technology and digital transformation space.
• Creadesk A specialized creative and design consulting service within Wavestone focused on design-driven transformation and innovation.
• PIA² Privacy Impact Assessment Tool An AI-specific privacy impact assessment tool developed by Wavestone to help organizations identify and mitigate AI-specific risks, designed to support compliance with the European AI Act which mandates PIA for high-risk AI systems.

Quantifiable outcome

• Q_PERIOR AG acquisition expected to contribute to growth from fiscal year 2024/25
• +3 more outcomes

Named customers5 records

Segments10 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability13 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• ANSSIcoreStrategic or Co-development Partner · 22 September 2026Partnership with ANSSI for a conference on post-quantum cryptography and computing strategy at Salon de la Data & de l'IA 2026, providing operational guidance on cybersecurity transitions.
• BpifranceminorStrategic or Co-development Partner · 19 June 2026Collaboration with Bpifrance to release data at VivaTech showing 105 cybersecurity startups were created in France between June 2025 and May 2026, representing a 138% increase.
• Femtech FrancecoreStrategic or Co-development Partner · 20 May 2026Annual partnership to produce the Femtech Barometer - the fourth edition in 2026 tracking 200 active startups in the French women's health innovation ecosystem.
• Unisys (FREIA Framework)coreStrategic or Co-development Partner · 29 August 2025Wavestone participates in the EU Cybersecurity Professional Services Framework Contract (FREIA), a consortium-led initiative led by Unisys in partnership with Uni Systems. Wavestone will deliver strategic cybersecurity services aligned with the NIST Cybersecurity Framework across all key functions including governance, risk management, protection, detection, response, and recovery. The FREIA framework is designed to strengthen the operational readiness and security posture of EU institutions.
• Uni SystemscoreStrategic or Co-development Partner · 29 August 2025Part of the FREIA consortium with Unisys and Wavestone for EU Cybersecurity Professional Services Framework Contract.
• WivoominorStrategic or Co-development Partner · 3 June 2025Wavestone acquired the French digital product development firm Wivoo to expand its digital product development capabilities.
• Q_PERIOR AGcoreStrategic or Co-development Partner · 4 December 2023Completed acquisition of Q_PERIOR AG valued at approximately €340 million, with the deal settled through share issuance and cash. Q_PERIOR generated revenue of €285 million in 2022 and is expected to contribute to Wavestone's growth from fiscal year 2024/25. The merger created a major European consultancy firm.
• PEN PartnershipminorStrategic or Co-development Partner · 15 September 2022Collaborated with PEN Partnership to acquire Cœus Consulting, a London-based management consulting firm specializing in CIO advisory, to expand Wavestone's presence in the UK consulting market.
• Cœus ConsultingminorStrategic or Co-development Partner · 15 September 2022Acquired Cœus Consulting International Ltd., a London-based management consulting firm specializing in CIO advisory and strategic IT advisory, to expand Wavestone's UK consulting market presence.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Oliver Wyman: Global management consultancy with a strong European presence and deep expertise in financial services, insurance, and risk — directly overlapping with Wavestone's Banking and Insurance verticals.
• BearingPoint: European-headquartered management and technology consultancy focused on transformation, regulatory compliance, and digital strategy. Closely comparable in vertical coverage (banking, insurance, public sector) and European-led positioning.
• Alvarez & Marsal: Global professional services firm known for restructuring and transformation advisory. Overlaps with Wavestone in transformation consulting and serves many of the same enterprise clients.
• Sopra Steria: Paris-listed European IT and management consulting firm with similar breadth across digital transformation, SAP, cybersecurity, and sector-specific consulting. Both serve large European enterprise and public-sector clients with comparable delivery models.
• Devoteam: Paris-based technology and management consulting firm focused on cloud, cybersecurity, data/AI, and SAP across Europe. Highly comparable in size, geographic footprint, and tech-led transformation positioning.
• Roland Berger: European-origin strategy and management consulting firm with strong presence in automotive, industrial, and public sector — overlapping target industries with Wavestone. Comparable mid-size positioning outside the MBB trio.

Broad incumbents

• Capgemini: Global leader in technology and management consulting with deep European roots, competing head-to-head in digital transformation, SAP, and AI. Larger scale and global delivery give it structural cost advantages on large multi-region programs.
• Accenture: Largest global management and technology consultancy, dominant in strategy, technology, and operations consulting. Competes with Wavestone on large transformation, SAP, and cybersecurity engagements especially for multinational clients.
• Atos: European-headquartered IT services and digital transformation firm with comparable cybersecurity, SAP, and managed services offerings. Differentiated by stronger infrastructure/managed services mix versus Wavestone's advisory-led model.
• McKinsey & Company: Global leader in management consulting competing for strategy and transformation mandates. Larger scale, elite brand, and global delivery footprint make it the dominant indirect competitor for Wavestone's most senior enterprise clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/c/wavestone
• LinkedInlinkedin.com/company/wavestone
• Instagraminstagram.com/wavestone_consulting
• Xx.com/wavestone_
• Facebookfacebook.com/wavestone-259044480879273

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A24 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wavestone SA