Accenture acquires Core Compete to boost its cloud offering

9 Apr 2021442 Views

Image: © Alexey Novikov/Stock.adobe.com

The cloud analytics company is the latest in a long line of acquisitions made by Accenture in order to enhance its client offering.

Global consulting giant Accenture has added another cloud services company to its growing list of acquisitions.

Headquartered in North Carolina with offices in the UK and India, Core Compete is a cloud analytics services company that enables digital transformation with a particular focus on supply chain, retail and financial services.

Accenture acquired the company for an undisclosed sum with the view to strengthening its own cloud-based solutions.

Sanjeev Vohra, global lead for Accenture Applied Intelligence, said cloud adoption has increased over the past year, with Accenture’s own research suggesting that more than 60pc of executives plan to invest more in cloud-based technologies.

“Core Compete’s approach to cloud analytics transformation helps us further accelerate time to value for our clients, giving them the right tools, strategy and talent to reap the full benefits of being data-driven,” said Vohra.

Core Compete was founded in 2012 and has a team of more than 260 employees who will join Accenture’s Applied Intelligence practice.

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Managing partner at Core Compete, Shiva Kommareddi, said: “Accenture’s investment in cloud and focus on AI as an exponential source of value is exactly what we need to help broaden our impact across new markets and industries and deepen our impact with clients.”

The Core Compete deal follows a spree of acquisitions as Accenture continues to grow its analytics, cloud and AI businesses.

The company’s most recent acquisition, Stockholm-headquartered Cygni, added another boost to its cloud-first approach.

Earlier this year, the multinational also acquired German consulting company Fable+, cloud-native product development company Imaginea and talent consultancy company Cirrus.

It also announced yesterday (8 April) that it completed its acquisition of Pollux, a Brazil-headquartered provider of industrial robotics and automation solutions.

Accenture’s focus on cloud technology follows the creation of Accenture Cloud First last year. The company intends to invest $3bn in expanding its cloud service capabilities and offerings over three years.

Another big focus area for the company is AI. A recent GlobaData report revealed that the company stands among US tech giants such as Apple and Google in the race to acquire AI companies.

Jenny Darmody is the deputy editor of Silicon Republic

editorial@siliconrepublic.com