Accenture Acquires Data Intelligence Firm Knowledgent
Knowledgent employs more than 200 people providing data strategy and architecture, data engineering, and data management services. The company has offices in New York, New Jersey, Boston and Toronto.
Explaining the deal, Bhaskar Ghosh, group chief executive, Accenture Technology Services, said:
“We are in the midst of a data revolution, powered by new technologies. Enterprises are using data to gain deep insights into all aspects of their businesses and customers, and build a strong competitive advantage to gain market share. With the acquisition of Knowledgent, we can accelerate our data services to clients, using Knowledgent’s top-notch talent, industry experience and proven data solutions.”
Knowledgent works across a number of industries including life sciences, healthcare, and financial services.
Accenture’s Buying Spree
The Knowledgent buyout is just the latest part of Accenture’s $1 billion M&A strategy across digital, cloud, and security services.
In just 2018, the company has made around a dozen acquisitions and strategic investments. For example, earlier this month the company acquired professional services assets from Safin, a financial services software provider.
Other recent Accenture deals include:
- December 2018: Acquiring Oracle cloud partner PrimeQ, a SaaS integrator and managed services provider (MSP) in Australia.
- December 2018: Acquiring Enaxis Consulting, a Houston-based digital consulting firm with experience in IoT, analytics, and robotics across the oil, gas and airline industries.
- November 2018: Investing in Financial Analytics Company Quantexa
- November 2018: Acquiring Adobe Partner Kaplan
- November 2018: Acquiring US-based SAP partner Intrigo Systems.
- November 2018: Buying Kolle Rebbe, a digital media agency.
- October 2018: Acquiring DAZ Systems to bolster its Oracle cloud services business.
- August 2018: Buying Mindtribe and Pillar Technology to help expand its Industry X.O digital practice.
- July 2018: Acquiring Kogentix for big data analytics and AI offerings.
- May 2018:Acquired Oracle partner Certus Solutions.
The acquisitions play a key role in Accenture’s growing revenues. Indeed, overall company revenues were $10.6 billion in the IT consulting company’s Q1 of fiscal 2019, up 7 percent from the corresponding quarter last year. Net income was $1.29 billion, up from $1.19 million in the corresponding quarter last year. The results, announced December 20, 2018, generally exceeded Wall Street’s expectations, according to SeekingAlpha.