Accenture to acquire digital marketing firm Acquity for $316 mn
20 May 2013
Global consulting and technology services firm Accenture struck a deal over the weekend to acquire leading digital marketing and e-commerce company, Acquity Group for approximately $316 million in cashf.
Accenture is offering to pay $13 per share, more than double Acquity's 17 May closing price of $5.96.
Under the terms of the deal, Accenture will pay $13 per outstanding American Depository Share which represents two ordinary shares of $6.50 each, the company said in a statement.
Founded in 2001 by Chris Dalton, Paul Weinewuth and Matt Schmeltz, Hong Kong-based Acquity Group is a leading global e-commerce brand and digital marketing company and is the second-largest such company in the US.
The Group works with over 600 brands including leaders like Adobe, American Express, General Motors, Grainger, General Motors, Mc Donald's, J.P. Morgan, New York Philharmonic, United Airlines and others.
The New York Stock Exchange-listed company has more than 600 employees and had revenues of $141 million last year.
"The acquisition of Acquity Group will expand our capabilities in key areas of digital marketing and e-commerce, complementing our strengths in strategy, analytics, scaled technology enablement and marketing operations," said, Brian Whipple, global managing director of Accenture.
"As one of the pioneers in e-commerce and digital marketing services, Acquity Group is pleased to be joining forces with Accenture, one of the largest and most successful consulting, technology and outsourcing companies in the world," said, Dalton, CEO and founder of Acquity.
"Our combined expertise will allow us to deliver transformational e-business solutions for our clients at scale and attract the best talent in the industry," he added.
Known earlier as Andersen Consulting, the once subsidiary of accounting giant Arthur Andersen, Accenture is one of the world's largest consulting, technology services and outsourcing company, with approximately 261,000 people serving clients in more than 120 countries.
The company's client list includes many of the world's most successful companies. For the fiscal year ended August 2012 it reported revenue of $27.9 billion.
Accenture Interactive provides a comprehensive suite of marketing, technology and analytic solutions to equip marketing professionals to improve their performance.
''Chief marketing officers (CMOs) and brand leaders are looking for a new type of service provider that can blend the creative process with analytics and enabling technologies to engage consumers and deliver compelling user experiences across channels,'' Whipple said.
The addition of Acquity Group's skills and capabilities in e-commerce and leading digital platforms such as Adobe and hybris, supported by Accenture's industry depth and global delivery capability, will help Accenture Interactive further address the most pressing needs of today's CMO in the midst of a digital transformation in marketing, Accenture said.
