Accenture Acquires Xoomworks to Boost Procurement Technology Solutions
Accenture has acquired Xoomworks Group, a consulting and technology company that specializes in procurement technology, software development and digital transformation. Financial terms of the deal were not disclosed.
This is technology M&A deal number 652 that ChannelE2E has covered so far in 2021.
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Accenture Acquires Xoomworks Procurement, Xoomworks Technology
Xoomworks, founded in 2000, is headquartered in London, United Kingdom. The company operates two distinct businesses:
- Xoomworks Procurement, a specialist consultancy focused on sourcing and procurement technologies; and
- Xoomworks Technology, a software development business.
Accenture believes Xoomworks will strengthen the buyer’s Closed Loop Spend Management capabilities, which help clients with cost visibility and management through the entire procurement lifecycle. Xoomworks Technology focuses on custom software development, UX and mobile, data engineering, product innovation and cloud integrations, according to the statement. Xoomworks has existing relationships with Accenture ecosystem partners, including SAP Ariba, Coupa and Jaggaer.
Xoomworks’s team of more than 250 professionals are joining Accenture from across their operations in the United Kingdom, France, Germany, Romania, Bulgaria, Denmark and Sweden.
Accenture Acquires Xoomworks: A Bigger Impact
Pierre-François Kaltenbach, senior managing director within Accenture’s supply chain and operations group, commented on the news:
“Now more than ever, companies need to take a more proactive approach to managing third-party spend that positions them for enduring growth and prepares them for what’s next. We’re delighted to welcome Xoomworks to our team and join our mission to help clients transform their procurement capabilities to accelerate innovation and drive breakthrough value, while answering the call for more responsible business.”
Malcolm Clark, co-founder and group CEO, Xoomworks, added:
“When we founded Xoomworks 21 years ago, we set out to create technology-led solutions to solve specific business problems and deliver high-performance outcomes with a focus on forming deep client relationships built on trust. We’ve done just that. I’m immensely proud of our people, our achievements and our collaborative values-led approach. The world has changed radically in the last two decades; by combining our experience, capabilities and expertise and with a shared vision of the future, we know we can have an even bigger impact as part of Accenture.”
Accenture now has more than 624,000 employees worldwide.