Accenture is acquiring ThinkTank, a Denver, Colorado-based company that develops a enterprise software project management platform. The goal: Accenture wants to further ensure customers' software projects are completed on time, on budget, in-scope and are well-adopted, the buyer says. Financial terms of the deal were not disclosed.
This is technology M&A deal number 256 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
Why Accenture Acquired ThinkTank
ThinkTank's flagship, cloud-based software platform is called Engage. The platform can reduce enterprise software implementation costs by up to 20%, speed design phases by 40%, and increase rate of adoption by users by 50%, Accenture asserts.
The Engage platform will tuck into Accenture's myConcerto technology portfolio -- which helps to speed deployments involving Adobe, Microsoft, Oracle, Salesforce, SAP and Workday applications.
In a prepared statement about the acquisition, Emma McGuigan, global lead, Accenture Intelligent Platform Services, said:
“Intelligent platforms can generate new value by amplifying the power of data and technology. However, planning and design processes can be complex if all stakeholders aren’t engaged or collaborating on decisions. ThinkTank Engage will be a natural extension of myConcerto, helping clients to better engage across stakeholder groups and digitize design and agile planning programs. The platform will empower clients to more easily create a personalized business case, roadmap and solution prototype, then integrating and automating processes for faster deployment and time to value.”
Added Nick Parnaby, CEO, ThinkTank:
“After working with Accenture for years, we’re thrilled to be joining the company and helping change the way enterprises define, deliver, and maintain the strategic software that runs their business. The ThinkTank Engage platform spurs better alignment and decision-making during complex enterprise business and technology transformations. Combining these capabilities with myConcerto and Accenture’s expertise, the result is a platform that seamlessly connects the people who define and operate essential business processes to the software that enables them, building truly agile enterprises.”
Accenture Acquisitions: M&A Deal List
This is Accenture's second acquisition announcement of the day. The other deal involved buying Electro 80 for operational technology (OT) expertise. Overall, Accenture has been very active on the M&A front. See more than 60 Accenture acquisitions listed here.