NEW YORK, Nov. 9, 2021 /PRNewswire/ -- Accenture
(NYSE: ACN) has acquired ClearEdge Partners, Inc., a firm
specializing in procurement spend management, to help clients
accelerate technology-led business by better managing digital
transformation spend. Terms of the transaction were not
disclosed.
BrightTower, a premier investment banking and M&A advisory
services firm, served as the exclusive financial advisor to
ClearEdge Partners in this transaction.
ClearEdge Partners brings proprietary methodologies, deep
expertise and solutions for information technology (IT) spend
management and software asset management. These capabilities with
Accenture's SynOps platform will give Accenture the ability to
extend insights and purchasing expertise to strengthen spend
management and improve ways of working, ultimately generating cost
savings and top-line value for clients.
Expanding digital transformation agendas continues to drive
rising IT spending among enterprise organizations. Industry
forecasts by Gartner® projects worldwide IT spending to reach
$4.1 trillion by the end of 2021, up
8.4% from 20201. However, Accenture estimates, as much
as 30% of value from IT spending gets lost to licensing
complexities and lack of spending controls.
"While the pandemic accelerated the speed of digital adoption,
organizations are now at an inflection point where sustaining
growth will be defined by those that create value faster and
maximize the impact of those investments," said Manish Sharma, group chief executive of
Accenture Operations. "We're delighted to welcome ClearEdge
Partners to our team, adding significant IT category expertise
to our procurement business while extending our ability to help
deliver breakthrough value for our clients."
Headquartered in the Boston
area, ClearEdge Partners brings approximately 100
professionals to Accenture Operations, along with deep category
expertise, advanced analytics and software asset management,
providing category strategy, sourcing support and IT spend
management.
Jack Garrahan, co-founder and
chief executive offer of ClearEdge Partners, added: "Since starting
ClearEdge Partners 15 years ago, we've built unrivaled
expertise and capabilities for helping clients maximize the value
of their digital transformation spend. Together with Accenture, our
shared vision of the future and combined capabilities will
accelerate our ambition and enable us to have an even bigger
impact."
About Accenture
Accenture is a global professional
services company with leading capabilities in digital, cloud and
security. Combining unmatched experience and specialized skills
across more than 40 industries, we offer Strategy and Consulting,
Interactive, Technology and Operations services—all powered by the
world's largest network of Advanced Technology and Intelligent
Operations centers. Our 624,000 people deliver on the promise of
technology and human ingenuity every day, serving clients in more
than 120 countries. We embrace the power of change to create value
and shared success for our clients, people, shareholders, partners
and communities. Visit us at www.accenture.com.
About BrightTower
BrightTower is a premier investment banking and M&A advisory
services firm specializing in software, tech-enabled marketing,
business/IT services, and information. Primarily focused on
accelerating the growth of tech-enabled, data-driven and
subscription companies, BrightTower is helping support clients as
they stay ahead of quickly evolving markets. Visit us on
LinkedIn.
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1 Gartner Press Release, Gartner Forecasts
Worldwide IT Spending to Reach $4
Trillion in 2021, April 7,
2021 GARTNER is a registered trademark and service
mark of Gartner, Inc. and/or its affiliates in the U.S. and
internationally and is used herein with permission. All rights
reserved.
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SOURCE BrightTower