Accenture Acquires ServiceNow, Microsoft, SAP Cloud Consultancy Solvera
This is technology M&A deal number 673 that ChannelE2E has covered so far in 2021.
Accenture expects to spend about $2.5 billion on acquisitions during the company’s current 2022 fiscal year, which ends on August 31, 2022. The $2.5 billion figure is down from a previous M&A spending estimate of about $4.0 billion for fiscal 2022. The reduction mostly involves some acquisitions taking longer to close while navigating various compliance checks, the company indicated.
Accenture Acquires Canadian IT Consulting Firm: Deal Details
Solvera Solutions, founded in 2005, is based on Regina, Saskatchewan, Canada. The company has roughly 450 employees. Solvera has M&A experience, having acquired application development firm Apptius Computer Solutions in 2020.
Meanwhile, Accenture has extensive experience across the ServiceNow, Microsoft and SAP application ecosystems. Moreover, Accenture Canada has acquired six businesses since 2020. The other five deals involved:
Accenture Acquires Solvera: Executive Perspectives
In a prepared statement about the Solvera Solutions deal, Accenture in Canada President Jeffrey Russell said:
“Adding Solvera Solutions’ digital transformation capabilities across ServiceNow, Microsoft and SAP, along with their local market and industry expertise, means we are even better positioned to support our clients across Western Canada. Clients across industries will benefit as we help them take advantage of the cloud and enhanced service delivery capabilities to transform their service and customer operations, ultimately driving greater business value from their investments in leading platform technologies.”
Added Robert Vokes, managing director and financial services lead for Accenture in Canada:
“Solvera Solutions is a deeply respected and high performing digital transformation specialist with a talented team that is committed to the communities it serves, making it a great addition to Accenture. Solvera Solutions expands our presence across the West, driving value and growth for our platform offerings in this key geographic region.”
Concluded Reg Robinson, CEO and co-founder at Solvera Solutions:
“The rate of digital adoption has accelerated in recent years and we’re committed to staying at the forefront of service delivery. Joining Accenture allows us to offer clients an even greater suite of resources and expertise through Accenture’s network of professionals across Canada and globally, while providing our people with a wealth of new career growth opportunities.”
Accenture now has roughly 710,000 employees worldwide.
ServiceNow and SAP Partners: M&A Activity
Meanwhile, M&A activity involving IT service management (ITSM) and ERP application expertise remains strong.