Accenture has acquired Wolox, a cloud-focused agile software development company. Financial terms of the deal were not disclosed.
This is M&A deal number 51 that ChannelE2E has covered so far in 2021.
Wolox, founded in 2012, employs 280 professionals who specialize in digital business design, product creation and agile squads, Accenture says. Key Wolox partners include Amazon Web Services (AWS), Auth0, Endeavor, Google Cloud Platform (GCP), IBM, PayPal and Singularity University, according to the seller's website.
Wolox, based in Argentina, aligns with the Accenture Cloud First initiative -- which spans 70,000 employees who are focused on cloud computing projects and services for customers. Accenture Cloud First essentially has a $3 billion budget — $1 billion per year — over the next three years, the global IT consulting firm says.
Accenture Acquires Cloud Software Development Company Wolox: Executive Perspectives
In a prepared statement about the deal, Karthik Narain, global lead for Accenture Cloud First, said:
“The acquisition of Wolox brings differentiated skills to Accenture, as the team uniquely blends cloud native development with design and state-of-the-art technologies for business transformation. Wolox has multidisciplinary teams of industry and business experts, UX/UI designers, software designers, architects and engineers and, together, we’re now more equipped to help clients tap into the technology expertise and human ingenuity that powers how Accenture innovates.”
Added Sergio Kaufman, president of Accenture Argentina and Hispanic South America:
“By pairing Accenture’s global expertise with Wolox’s regional talent and capabilities, this acquisition strengthens our ability to help clients accelerate business transformation using cloud technologies and deliver measurable business value. We will integrate Wolox across Accenture’s services, including Strategy & Consulting, Interactive, Technology and Operations, enabling us to deliver 360 degree value for our clients, people, shareholders, partners and communities.”
Concluded Agustina Fainguersch, Wolox founder and CEO:
“Since 2012, Wolox has focused on transforming industries through technology. By joining Accenture, we will be able to continue doing so, furthering our reach and impact in a more robust manner. The combination of Accenture and Wolox is a great opportunity for our teams and clients. This is our moment to help clients solve their most pressing challenges by leveraging the cloud and cutting-edge technologies.”
Cloud Consulting Mergers and Acquisitions
M&A activity focused on cloud consulting and migration firms has been very strong. In addition to Accenture, key buyers in the M&A market include Atos, Cognizant, Deloitte, IBM and other global IT consulting firms as well as private equity firms. Pundits close to the deals suggest that some of the M&A deals may involve overheated bidding wars for cloud talent, according to ChannelE2E background reporting.
