Accenture (NYSE: ACN) has agreed to acquire Parsionate, a data consultancy specialized in data products and modern data foundation services, ranging from data strategy development to technology implementation.
With deep industry-specific capabilities in the retail and industrial sector, as well as in the consumer goods and life sciences industries, the acquisition of Parsionate will strengthen Accenture’s data and artificial intelligence (AI) capabilities in Europe and enhance the company’s ability to deliver innovative, data-driven solutions to clients in these markets.
According to research from Accenture, 75% of C-level leaders plan to increase their spending on data and AI in 2024, compared to 50% that increased spending in 2023.
“Data readiness is essential to a company’s ability to harness advances in AI. Getting data right – as part of a strong, cloud-based digital core – lays the foundation for achieving exponential value through AI,” said Christina Raab, market unit lead for Accenture in Germany, Austria and Switzerland. “Parsionate’s holistic data expertise, from strategy development to technology implementation, will enhance our ability to provide clients with highly tailored and effective data-driven solutions that will help them harness the transformative power of generative AI.”
Headquartered in Stuttgart, Germany, with offices in Munich, Dortmund and Hamburg as well as in the Netherlands, Sweden and Switzerland, Parsionate is known for its ability to translate between data architectures and business context and is recognized by Gartner as a major service provider in Master Data Management and Data Governance globally. Parsionate’s team of 130 professionals, from data consultants and architects to engineers, will join Accenture Technology’s Data & AI group. Its founders, Thomas Sperrfechter and Michael Fieg, will lead the data architecture and management portfolio within the group in Germany, Austria and Switzerland.
“Parsionate brings exceptional proficiency in data and analytics, combined with strong international data product capabilities and deep industry expertise,” said Kathrin Schwan, who leads Accenture’s Data & AI business in Germany, Austria and Switzerland. “The data and AI market is experiencing significant growth and coupled with Parsionate’s team of senior experts, we can offer an even more comprehensive range of services to help our clients win in this dynamic environment.”
“We are excited to join Accenture and become part of its global network,” said Thomas Sperrfechter and Michael Fieg, founders and managing directors at Parsionate. “Our clients value us for giving them a competitive edge by enhancing their data readiness and enabling data as an asset. By joining forces with Accenture, we will generate synergies along the data and analytics value chain and will be able to offer even more comprehensive and innovative data-driven solutions, while providing new growth opportunities to our team.”
The acquisition of Parsionate is the latest in a series of moves by Accenture to strengthen its data and AI capabilities. In recent months, the company has also acquired customer experience analytics provider GemSeek, process innovator Ammagamma and data consultancy Redkite. The transaction is part of Accenture’s $3 billion investment to accelerate clients’ transformation through the large-scale application of AI.
Terms of the transaction were not disclosed. Completion of the acquisition is subject to customary closing conditions.
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