Accenture has acquired Zestgroup, a services firm specializing in energy transitions, net carbon-zero projects and procurement of renewables. Financial terms of the deal were not disclosed.
This is technology M&A deal number 786 that ChannelE2E has covered so far in 2021. Also, this is the second Accenture acquisition that we've covered in the past 24 hours. The other deal involved 5G network consulting firm AFD.TECH.
Accenture Acquires Zestgroup: Business Background
Zestgroup, the latest acquisition, supports customer transitions to sustainable energy sources, such as solar, water, heat, wind and biogas, and helps clients achieve net-zero carbon, the seller indicated.
Zestgroup, headquartered in the Netherlands, has more than 120 employees. Those team members will tuck into Accenture Operations -- a group focused on energy transition and reconciliation, supplier market regulations, renewable spending category and project and procurement services.
In a prepared statement about the deal, Ramon van der Wal, CEO of Zestgroup, added:
“Growing our business as part of Accenture will translate into new opportunities for our people and our combined expertise will help our clients move faster and smarter as they realize the benefits that emerge from a net-zero journey.”
Accenture Perspectives on Zestgroup Acquisition
In a prepared statement, Nicole van Det, country managing director of Accenture Netherlands, said:
“By combining years of deep industry expertise and capabilities, Zestgroup advances our ability to help clients move faster in achieving their carbon emission objectives,” said Nicole van Det, country managing director of Accenture Netherlands. “A sustainable future relies on organizations moving faster to transition ways of working to those that make greater use of sustainable clean energy sources.”
Added Manish Sharma, group chief executive of Accenture Operations:
“Creating a sustainable future will be defined by those that create value faster and maximize the impact of those investments. We’re delighted to welcome Zestgroup to our team, adding significant expertise to our procurement business while extending our ability to deliver on our promise to embed sustainability into everything we do and with everyone we work with.”
Accenture: Overall Business Performance
Meanwhile, Accenture also announced quarterly financial results today. For Q1 of fiscal 2022, key metrics included:
- Revenue of $15 billion, up 27% from Q1 of fiscal 2021.
- Net income of $1.8 billion, up 12% from Q1 of fiscal 2021.
Accenture CEO Julie Sweet pointed to momentum across the digital, cloud and security fronts. The company added 50,000 people to its workforce during the quarter, and now employees 674,000 people. The new additions include organic hires as well as employees who joined through numerous Accenture acquisitions.
