Accenture’s buying spree continues. This time the global systems integrator has acquired Nytec Inc., a Kirkland, Washington-based company that has IoT (Internet of Things) engineering and software expertise. Financial terms were not disclosed.
Nytec, founded in 1975, has more than 250 employees. The team will tuck into Accenture Industry X.O business. The team's IoT product focus will target such markets as consumer tech, industrial high tech, hospitality, travel, and consumer goods.
Nytec operates a Product Innovation Center (PIC) in Kirkland. The center provides design, prototype development, engineering, and support services for manufacturing.
Craig McNeil, Accenture Industry X.O lead, North America, commented on the deal:
“Our ambition is to become a key partner for clients wanting to transform their business through innovation that is coming from the fusion of software, physical products and connectivity. We’ve been building the skillset to deliver on this ambition, in part through our acquisitions of hardware engineering company Mindtribe and embedded software development firm Pillar Technology, and with Nytec we will continue to expand it.”
Rich Lerz, CEO of Nytec, also commented:
“Our designers, engineers, and manufacturing experts translate complex problems into compelling, simple solutions that deliver the ultimate user experience. Becoming part of Accenture Industry X.0 will allow our team to scale services for our clients and get access to the best brands in the world.”
Accenture Wraps Up Big Acquisition Year
Accenture in March 2019 announced plans to spend $1.5 billion on acquisitions during the company's fiscal year 2019 -- which ended August 31, 2019. The company targeted companies in the digital, cloud, and cybersecurity industries. A full list of Accenture’s 2019 deals can be found here.
When the company's new fiscal year started on September 1, 2020, the company completed several executive transitions. Key names to know include new global CEO Julie Sweet and new North America CEO James Etheredge Sweet’s position.
We're checking to see if Accenture has disclosed how much it plans to spend on acquisitions this fiscal year.
Accenture is also a Top 200 MSSP for 2019, according to MSSP Alert, ChannelE2E’s sister site.
Additional insights from Joe Panettieri.