Accenture ($ACN) has acquired CreativeDrive from private equity firm Bertram Capital. CreativeDrive is digital content production company that "simplifies, automates and scales the creative asset production process," Accenture asserts. Financial terms of the deal were not disclosed.
CreativeDrive, founded in 2015, has on-premise content studios that create assets across motion, photography, CGI and augmented reality. In addition, a proprietary CD Suite technology automates key steps in the content creation lifecycle to connect ecosystems of brands, markets, retailers and suppliers, the seller says. CreativeDrive’s client roster includes Estée Lauder, Michael Kors and Walmart, among others.
CreativeDrive has roughly 700 employees. The New York-based company also has offices in Australia, Brazil, China, Costa Rica, Singapore, South Africa, and the United Kingdom.
JEGI | CLARITY, an investment bank focused on the global media, marketing and information sectors, represented Bertram Capital in the deal.
CreaetiveDrive: Business History
Private equity firm Bertram Capital launched CreativeDrive in 2015 through the merger of Sandbox Studio and KSC Studio (also known as OneKreate). From there, CreativeDrive went on an acquisition spree. Key purchases have included.
- October 2016: Hudson Studios, a New York-based studio.
- June 2017: DoubleDigit, a content production company that provides customized content solutions and specializes in website, apps, social content creation and development.
- March 2018: Decora, a 3D visualization and augmented reality tech startup, Decora. At the time, Decora was delivering over 15,000 3D product models and over 7,000 digital scenes a month via a combination of full-time talent and a growing community of 3D designers.
Accenture Acquires CreativeDrive: Executive Perspectives
In a prepared statement, Accenture Interactive CEO Brian Whipple said:
“Speed is today’s currency, particularly as the COVID-19 pandemic accelerates the massive disruption that brands are experiencing as consumers shift to online channels at an unprecedented pace. The acquisition of CreativeDrive is an investment in our clients and their future success — positioning us even more strongly to help them rise to this challenge and create a content revolution in a creative, cost-effective and agile manner.”
Manish Sharma, group chief executive of Accenture Operations, added:
“We help clients drive growth by providing them with agile and scalable solutions. CreativeDrive’s business model — offering the benefit of an in-house content studio model with proprietary technology — provides transparency, the ability to get products and services to market quickly, and data insights to enable success. Clients will benefit from our combined capabilities and we’re excited to have them join the Accenture family.”
Myles Peacock, CEO of CreativeDrive, concluded:
“We are thrilled to be joining forces with Accenture to help clients meet their accelerated demand for personalized and compelling content at scale, particularly as many brands today struggle with a fragmented approach. As part of Accenture, we’ll be able to create a holistic experience for brands — from content capture through cross-channel activation — and meet the radically evolving needs of brands today.”