Accenture, the multinational professional services company that has been buying IT consulting firms at breakneck speeds, has announced its latest acquisition.
The latest deal involves Mudano, a strategic data consultancy to financial services firms in the United Kingdom. The deal bolsters Accenture’s analytics, data, and artificial intelligence (AI) transformation capabilities, according to the company. Terms of the deal were not disclosed.
Accenture Acquires Mudano: Deal Background
Founded in 2014, Mudano is headquartered in London and maintains a presence in Edinburgh, Scotland. Mudano uses advanced analytics, applied data science, and modern data technologies to advise banks, insurers, and wealth management firms in the United Kingdom. These tools can be used for things including customer behavior analytics, financial crime-prevention, and intelligent data management.
Mudano’s team will join Accenture Applied Intelligence, the company’s AI-focused division. Mudano’s data advisory expertise and technology solutions will be added to Accenture’s existing capabilities, according to the company.
Accenture Acquires Mudano: Executive Perspective
George Marcotte, a managing director for Accenture 's Applied Intelligence group in the U.K. & Ireland, commented:
“Our research shows that U.K. businesses are struggling with how to scale technologies like artificial intelligence to deliver business value – and financial services is no exception. Mudano’s focus on helping clients build a ‘data culture’ aligns perfectly to Accenture’s Applied Intelligence strategy. By creating a strong data foundation – supported by the right skills, stakeholders and technologies – our clients can transform at speed and scale and fuel real change for their business.”
Ed Broussard, Mudano CEO, added:
“Accenture’s reputation for excellence and large-scale delivery will enable us to help clients realize the benefits of data transformation – from setting the strategy and building the culture to leveraging the game-changing insights that data analytics can bring. We are excited to become part of one of the world’s leading companies and look forward to the opportunities this will bring for our employees and clients.”
Accenture Acquisitions: Buyout List
In Accenture’s 2019 fiscal year, the company invested around US$1.2 billion on 33 acquisitions, seeking to bolster its talent pool and capabilities within strategic, high-growth markets. That buying spree is continuing into 2020.
This latest deal marks the fifth Accenture investment or acquisition we’ve seen so far in 2020. The others involve:
- The Workday, Salesforce, and U.S. MuleSoft cloud IT consulting practices from Sierra-Cedar.
- Ideoclick, an e-commerce optimization platform provider.
- SAP partner Maihiro.
- The MSSP arm of Symantec Enterprise.
ChannelE2E has compiled a comprehensive list of Accenture’s deals here.