Updated - Financial Details - According to the Australian Financial Review:
- In the last financial year to June 30, PrimeQ recorded $28.2 million in revenue, up from only $9 million the year before. At the same time it grew profits to $481,377, up from a $5.8 million loss in 2017.
- Accenture paid $31 million for PrimeQ, according to the report.
The deal makes Accenture the largest Oracle cloud systems integrator across that region, the company claims.
PrimeQ, founded in 2016, focuses on such Oracle SaaS application areas as Enterprise Resource Planning (ERP), transportation management, warehouse management and CRM. The company earned Oracle's Specialized Partner of the YEar award for multiple categories in the Australia and New Zealand region for 2017 and 2018.
Accenture has acquired multiple Oracle partners in recent months. Example deals include DAZ Systems in the United States and Certus Solutions in the United Kingdom. Those deals are part of a larger Accenture workforce that now employs more than 54,000 Oracle-skilled consultants worldwide.
Accenture Acquires PrimeQ: Executives Describe Deal
Describing the PrimeQ deal, James Madigan, who leads Accenture’s Oracle business in Australia and New Zealand, said:
“PrimeQ has extensive experience implementing Oracle SaaS Cloud solutions, which complements Accenture’s established credentials across the Oracle Cloud portfolio. They are a highly valued Oracle ecosystem partner, bringing an impressive track record and top talent that will help drive significant results for our clients.”
Added PrimeQ CEO Andrew McAdams:
“PrimeQ is very pleased to join Accenture as it will help create good outcomes for our customers, our people and our shareholders. Together, Accenture and PrimeQ will provide our clients with unrivalled Oracle services and enable them to accelerate their digital transformation.”
The announcement did not disclose whether McAdams would remain with the business, and if so, in what capacity. ChannelE2E has reached out to Accenture for those details.
Oracle Partner Acquisitions: Multiple companies have acquired Oracle partners in recent months. Examples include:
Accenture Acquisition Strategy
Accenture in recent months has made numerous acquisitions as part of its $1 billion M&A push across digital, cloud and security services.
Other recent Accenture deals include:
- December 2018: Acquiring Enaxis Consulting, a Houston-based digital consulting firm with experience in IoT, analytics, and robotics across the oil, gas and airline industries.
- November 2018: Investing in Financial Analytics Company Quantexa
- November 2018: Acquiring Adobe Partner Kaplan
- November 2018: Acquiring US-based SAP partner Intrigo Systems.
- November 2018: Buying Kolle Rebbe, a digital media agency.
- October 2018: Acquiring DAZ Systems to bolster its Oracle cloud services business.
- August 2018: Buying Mindtribe and Pillar Technology to help expand its Industry X.O digital practice.
- July 2018: Acquiring Kogentix for big data analytics and AI offerings.
- May 2018:Acquired Oracle partner Certus Solutions.
Accenture is scheduled to announce its latest quarterly results on December 20, 2018.