Accenture acquired SolutionsIQ
In June 2017, Accenture (ACN) announced the acquisition of SolutionsIQ for an undisclosed amount. SolutionsIQ provides agile transformation solutions for enterprises. Accenture acquired SolutionsIQ to develop its digital marketing capabilities.
The software development cycle time is expected to decrease for enterprises, as they use SolutionsIQ’s Agile Transformation capabilities. This shift would help these enterprises address other business requirements and improve its customer experience.
On June 2, 2017, Accenture Technology Services’ group chief executive, Bhaskar Ghosh, noted, “This acquisition brings tremendous value to Accenture and our clients. Today Agile is more than just a software development methodology.
“SolutionsIQ coaches will expand our ability to help clients reduce investment risk, accelerate time to market for new products and services, and support design that delivers better customer experiences.”
Accenture to acquire Phase One Consulting Group and Intrepid
On June 7, 2017, Accenture also announced that it plans to acquire Phase One Consulting Group. Accenture noted, “Bolstering Accenture’s Cloud First strategy, Phase One will bring a complementary client footprint and large, highly skilled team offering Salesforce and management consulting services.”
On June 28, 2017, Accenture acquired Intrepid to enhance its digital services. Based in Boston, Intrepid was founded in 2010 and offers a variety of services such as digital design and product strategy to enterprises such as Proctor & Gamble (PG) and Newbury Comics.
Accenture is looking to drive revenue growth through acquisitions. Accenture acquired more than 20 firms in 2015 and signed deals with over ten companies in 2016. Accenture is now providing solutions and services in various business verticals such as CRM (customer relationship management), IT security, and consulting. Acquisitions help the firm broaden its portfolio while strengthening its position against competitors such as CSC (CSC) and Cognizant Technology Solutions (CTSH).
Although Accenture has not disclosed the acquisition deal amounts, it had more than $4.9 billion in cash at the end of fiscal 2016 to fund acquisitions and support its growth strategy.