Alchemy acquired by NTT DATA to drive global insurance innovation

Alchemy Technology Services has been acquired by NTT DATA, in a strategic move that will accelerate growth and establish a Global Centre of Excellence in Derry.

The team will help shape and deliver complex transformation programmes for insurers worldwide, with Alchemy’s unique delivery and training model set to be adopted across international markets.

The acquisition significantly enhances Alchemy’s ability to scale, extend its international footprint, and drive innovation in partnership with some of the world’s largest insurers. 

In addition to its strong consultancy and Guidewire credentials, Alchemy brings deep expertise in the specialty insurance market - particularly in supporting complex and regulated environments such as the London Market - further strengthening NTT DATA’s ability to serve niche and high-value segments across the global insurance landscape.

Economy Minister Dr Caoimhe Archibald said: “Ensuring greater prosperity across the region is a key priority for my Department. Attracting such a significant investor as NTT DATA to the North West is a major milestone for the region and our economy as a whole.

“Since establishing in the north in 2018, Alchemy has invested in building skills and capability locally, with a particular commitment to the North West. Today’s acquisition announcement is a fantastic endorsement of Derry’s strong talent base, now showcasing on a global level, and reinforces the North West as a hub of innovation in Financial Services, a priority sector for future growth. I look forward to seeing Alchemy continue to grow with NTT DATA.”

John Harkin, Founder and CEO of Alchemy, said: “This is a proud and exciting moment for our team, our clients, and the wider region. Becoming part of NTT DATA unlocks extraordinary opportunities, not just for international growth, but for expanding the reach and impact of the work we do. As someone deeply committed to the North West, I’m especially proud that this move allows us to reaffirm and strengthen our long-term commitment to the region.”

Bruno Abril, Chairman at Alchemy & Global Lead, Insurance Industry at NTT DATA Inc. said: “Joining forces with Alchemy enhances our ability to accelerate digital transformation in the insurance industry, reinforcing our strategic growth ambitions and the vast opportunities we see ahead. IT modernisation in P&C insurance is not a fleeting trend - it’s a core market priority attracting sustained investment.

"Together, we are uniquely positioned to lead this transformation. This acquisition is a natural evolution of our shared vision, complementary capabilities and aligned values, empowering us to deliver smarter, scalable solutions that meet the evolving needs of insurers worldwide.”

Founded in 2018, Alchemy has earned a strong reputation as an agile, client-focused partner in the insurance technology space. Its distinctive culture, delivery model, and Guidewire Advantage Partner status played a key role in NTT DATA’s decision to make the acquisition.

Alchemy’s core philosophy centred on talent development, client success, and long-term impact will now be amplified on a global scale. The company, which expanded its UK presence in 2023 through the acquisition of a London-based insurance technology business, will continue to operate with its own identity and values. Its deep expertise in the London Market and commercial insurance sector will play a central role in NTT DATA’s growth strategy, as Alchemy’s proven model is scaled to meet global demand.

The acquisition reflects strong cultural alignment between the two businesses, built on people-first values, a commitment to innovation, and long-term client partnerships. For insurance companies, the acquisition ensures continuity of service with expanded capability, including increased access to global delivery capacity and cutting-edge innovation across AI, automation, and core modernisation. For the Alchemy team, it brings new opportunities for growth, international collaboration, and career development within a global organisation.

This acquisition positions Alchemy as a strategic force in global insurance transformation combining proven delivery capability with the scale and investment of NTT DATA. With a new Global Centre of Excellence for Guidewire delivery, a growing footprint in the London Market, and international expansion already underway, the business is set to play a defining role in shaping the future of insurance technology worldwide.