Global IT consulting firm Accenture acquired The Beacon Group, a growth strategy consultancy firm serving Fortune 500 companies across technology, aerospace, industrial, healthcare and life sciences industries. Financial terms of the deal were not disclosed.
This is technology M&A deal number 796 that ChannelE2E has covered so far in 2022.
Accenture Acquires Beacon Group
Accenture, founded in 1989, is headquartered in Dublin, Ireland and has more than 70 locations around the globe. The company has 710,000 employees listed on LinkedIn. Accenture’s areas of expertise include management consulting, systems integration and technology, business process outsourcing and application and infrastructure outsourcing.
Beacon Group, founded in 2001, is based in Portland, Maine. The company has 85 employees listed on LinkedIn. Beacon Group’s areas of expertise include growth strategy and management consulting.
Beacon’s team of more than 60 experts in growth strategy, market modeling and mergers and acquisitions (M&A) advisory will join Accenture Strategy, the companies said. The acquisition deepens Accenture’s growth strategy consulting practice and further bolsters Accenture’s M&A consulting services, the companies said.
Chris Roark, North America lead of Accenture Strategy, commented on the news:
“Today’s disruptive market environment is fundamentally challenging companies and changing the way they operate. Business leaders must be able to understand, and quickly act on, new or existing pathways that will drive profitability. The addition of Beacon’s senior talent, growth framework and market modeling platform will expand our capabilities that help our clients see around disruptive corners, embrace change and shape their business strategies to deliver and sustain value to all stakeholders.”
Cliff Farrah, president and CEO, Beacon Group, and author of Growing the Top Line, added:
“We have spent the last 20 years evolving our services through varied economic cycles to reflect the growth strategy needs of our clients. Now, we look forward to bringing the best of our expertise to Accenture Strategy and offering clients deep industry knowledge, and a full suite of growth strategy capabilities that enable 360° value creation.”
Accenture’s M&A Activity
Accenture estimated that it spent about $2.5 billion on acquisitions during the company’s 2022 fiscal year, which ended on August 31, 2022. Already in fiscal 2023, Accenture acquired supply chain management consultancy MacGregor Partners, climate change and sustainability consultancy Carbon Intelligence and Oracle supply chain management consultancy Inspirage.