Accenture acquires ThinkTank, a Denver, Colorado-based company that develops an enterprise software project management platform. The Goal: Accenture wants to ensure that its clients’ software projects are completed on time, on budget, on scope and well adopted, says the buyer. Financial terms of the deal were not disclosed.
This is tech M&A deal number 256 that ChannelE2E has covered so far in 2021. See all tech M&A deals for 2021 and 2020 listed here.
Why Accenture Acquired ThinkTank
ThinkTank’s flagship cloud software platform is called Engage. The platform can reduce enterprise software implementation costs by up to 20%, speed up design phases by 40% and increase user adoption by 50%, Accenture claims.
The Engage platform will integrate with Accenture’s myConcerto technology portfolio, which helps accelerate deployments involving Adobe, Microsoft, Oracle, Salesforce, SAP and Workday applications.
In a prepared statement about the acquisition, Emma McGuigan, Global Head, Accenture Intelligent Platform Services, said:
“Smart platforms can generate new value by amplifying the power of data and technology. However, planning and design processes can be complex if all stakeholders are not engaged or collaborating in decisions. ThinkTank Engage will be a natural extension of myConcerto, helping customers better engage among stakeholder groups and digitize agile design and planning programs. The platform will make it easier for customers to create a custom business case, roadmap, and solution prototype, then integrate and automate processes for faster deployment and faster ROI.
Nick Parnaby, CEO of ThinkTank added:
“After working with Accenture for years, we are excited to join the company and help change the way companies define, deliver and maintain the mission-critical software that runs their business. The ThinkTank Engage Platform drives better alignment and decision-making during complex enterprise business and technology transformations. Combining these capabilities with the expertise of myConcerto and Accenture, the result is a platform that seamlessly connects the people who define and operate critical business processes to the software that enables them, creating truly agile businesses.
Accenture Acquisitions: List of M&A Transactions
This is Accenture’s second acquisition announcement of the day. The other deal involved the purchase of Electro 80 for operational technology (OT) expertise. Overall, Accenture has been very active on the M&A front. Discover more than 60 Accenture acquisitions listed here.