Accenture to acquire procurement firm Insight Sourcing
Investing.com | Editor Rachael Rajan
Published Feb 13, 2024 11:58AM ET
NEW YORK & ATLANTA – Accenture (NYSE: NYSE:ACN), a global professional services company, has announced an agreement to acquire Insight Sourcing, a strategic sourcing and procurement services provider. The acquisition aims to enhance Accenture's capabilities in sourcing and procurement for various industries, including private equity, consumer goods, retail, technology, and industrial sectors.
Insight Sourcing is recognized for assisting clients in optimizing costs and negotiating contracts for a range of materials and services. The acquisition is expected to add approximately 220 sourcing consultants to Accenture's Sourcing & Procurement practice within its Supply Chain & Operations function. Additionally, Insight Sourcing's suite of over 40 technology procurement tools will be integrated into Accenture's offerings.
Rob Fuhrmann, global lead for sourcing and procurement at Accenture, emphasized the strategic significance of the acquisition, stating that it represents an important step in positioning Accenture as a leading provider in sourcing and procurement advisory and execution services. The combined expertise and technology capabilities are intended to drive efficiency and resilience in client supply chains.
Insight Sourcing's current portfolio includes serving more than 60 companies in the private equity industry, and the acquisition follows Accenture's recent purchases of Impendi and The Shelby Group, both of which also support private equity clients.
Headquartered in Atlanta and founded in 2002, Insight Sourcing also includes an energy procurement and management business, Insight Energy. The financial terms of the transaction have not been disclosed, and the completion of the acquisition is subject to customary closing conditions, including regulatory approvals.
This expansion is part of Accenture's broader strategy to offer comprehensive services and solutions across Strategy & Consulting, Technology, Operations, Industry X, and Song, aiming to create tangible value for clients in more than 120 countries.
The information is based on a press release statement from Accenture.
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