Accenture has disclosed its second acquisition of the week and fifth purchase of May 2020 -- this time buying PLM Systems of Turin, Italy. Financial terms of the deal were not disclosed.
This is M&A deal number 215 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
PLM Systems, founded in 1996, is a boutique systems integrator specializing in designing and building information systems for product lifecycle management. PLM's clientele includes Italian and international automotive, industrial equipment, fashion, and aerospace and defense companies. Product lifecycle management systems help companies manage all relevant information about a product from its creation to its disposal.
The PLM team will join Accenture Industry X.0 -- an arm of the company that focuses heavily on IoT, data analytics and artificial intelligence.
Accenture Acquires PLM Systems: Executive Perspectives
Nigel Stacey, managing director and global lead of Accenture Industry X.0, commented on the deal:
"Digital technologies like artificial intelligence are taking product lifecycle management to a new level. This offers industrial companies a huge opportunity to transform a core business function – engineering. PLM Systems’ expertise and experience in product lifecycle management will allow us to help clients make the best use of their product data."
Mauro Marchiaro, managing director, strategy & consulting at Accenture in Italy, added:
"PLM Systems will be a cornerstone of progressing Accenture’s leadership in engineering digitization services. We will combine our Industry X.0 capabilities with PLM Systems’ methodologies and solutions. This combination will allow us to make the industrial product development process more efficient and sustainable for our clients."
Alberto Codrino, CEO of PLM Systems, concluded:
"We’re excited to become part of Accenture. Its client base and global footprint will offer our team new opportunities to expand their skills and we can develop even better technology solutions for clients to innovate and manage new products."
Accenture’s Growth Strategy
This is Accenture's fourth recent acquisition focused on digital manufacturing advisory, services and solutions provider. Other recent deals involved Callisto Integration (Canada), Silveo (France), and Enterprise System Partners (Ireland).
Other recent acquisitions Accenture has made to strengthen its Industry X.0 business include German embedded software company ESR Labs, Dutch product design and innovation agency VanBerlo, U.S. product innovation and engineering company Nytec, and German strategic design consultancy designaffairs.
Accenture's acquisition budget for fiscal year 2020 is approximately $1.6 billion, according to CFO KC McClure, who made the announcement during a March 2020 earnings call with investors.
A detailed list of Accenture acquisitions can be found here.
