This is M&A deal 384 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
N3’s technology will be combined with Accenture’s own SynOps platform, according to Accenture. N3’s employees will also tuck into Accenture’s workforce, the company said.
N3 is headquartered in Atlanta, Georgia with additional locations in Brazil, Costa Rica, Ireland, Germany, Japan, Singapore and the UK. The company was previously owned by private equity firm RedBird Capital Partners, which has itself been involved in a number of IT-related M&A deals in recent years.
What Are Inside Sales?
Founded in 2004, N3 bills itself as an “outsourced inside sales firm.” Inside sales relies on technology to identify, nurture, and turn leads into customers remotely.
According to the Harvard Business Review, "Inside sales has muscled its way into serving larger customers with complex needs. Also, inside salespeople who once performed only simple tasks (generating leads, getting renewals) are doing more complex steps, including assessing customer needs, crafting solutions, and closing sales."
N3’s core business involves its artificial intelligence-powered platform, which generates sales conversions and high-value revenue solutions for its clients. The company works with brands like Microsoft, Cisco Systems, and SAP.
Accenture’s N3 Acquisition: Talent and Technology
Manish Sharma, group chief executive of Accenture Operations, commented on the deal:
“Increasingly, B2B buyers expect the same ‘Amazon-like’ interactions they experience as consumers when purchasing far more complex services — a trend that’s only accelerated in the current pandemic. N3 provides the perfect combination of skilled talent and technology to remove barriers and better influence purchasing decisions at critical stages.”
Jeff Laue, founder and chief executive officer of N3, said:
“We were drawn to Accenture, in large part, due to the growth opportunity– as far as developing talent, advancing capabilities and joining a company with strengths and values that complement our own. Together, our capabilities provide a differentiated, data-driven approach that companies can use to sharpen their sales focus and deliver on the ambition of sustainable growth.”
Accenture’s M&A Experience
Accenture’s buying spree doesn’t seem like it will slow down any time soon. The company has made at least 20 deals since the beginning of 2020, and dozens more in previous years.
ChannelE2E has compiled a list of all of Accenture’s acquisitions, which can be found here.