Accenture has acquired Advocate Networks, a technology consultancy and managed services provider (MSP). Financial terms of the deal were not disclosed.
This is technology M&A deal number 533 that ChannelE2E has covered so far in 2022.
The Advocate Networks deal is part of a larger M&A strategy. Indeed, Accenture plans to spend roughly $4 billion on acquisitions during the current fiscal year. Roughly $1.8 billion of that $4 billion M&A budget was spent on 21 acquisitions during the first half of Accenture’s fiscal year 2022, CFO KC McClure indicated during an earnings call on March 17, 2022.
Accenture Acquires Advocate Networks: Company Backgrounds
Advocate of Norcross, Georgia, offers strategic advisory capabilities as well as TBM-as-a-service (TBMaaS). The solutions and services align with Accenture’s Momentum, myConcerto, myDiagnostic and myNav solutions, the buyer indicated. Roughly Advocate 85 employees will join Accenture’s Technology Strategy & Advisory practice, Accenture said.
Keith Boone, Accenture’s North America technology strategy and advisory lead, commented on the news:
“Organizations expect their technology investments to fuel innovation and transform business operations and are increasingly adopting TBM principles to optimize spend and deliver and demonstrate immediate strategic business value. With the powerful combination of Accenture and Advocate, we will offer a multitude of industry-leading resources and capabilities to help our clients measure the value of technology initiatives in a clear, quantifiable manner.”
Tim Wise, co-founder and co-CEO of Advocate, added:
“For more than two decades, Advocate’s enterprise clients have relied on our dedicated team of TBM advisors, industry thought leaders and technology specialists to improve efficiency and uncover savings for new investments. We share Accenture Technology Strategy & Advisory’s purpose for helping clients architect and realize exceptional business value from technology and are excited to bring our combined capabilities to both new and existing customers.”
Accenture's M&A Activity
Global IT consulting firm Accenture typically acquires dozens of companies each year. Many of the deals focus on cloud services, cybersecurity, digital transformation, data and analytics, managed services, sustainability and ad agencies. You can see a list of Accenture acquisitions that ChannelE2E has tracked since 2019 here.