Australian strategy consulting firm AlphaBeta joins Accenture
AlphaBeta Advisors, a boutique strategy consulting firm with around 35 consultants in Sydney, Melbourne and Canberra, has been acquired by Accenture.
Founded just five years ago and led by a group of among others former McKinsey and BCG consultants, AlphaBeta Advisors is a firm that specialises in applying data-driven analysis to a traditional consulting and economics toolkit, helping clients understand how to deal with their most pressing challenges.
“We specialise in in-depth, data-driven strategy consulting that combines our unique data assets (including economic, education, employment, housing and transport data), innovative data science and economic methods, and multi-disciplinary teams with experience working on major reforms,” said Andrew Charlton, the founder and director of AlphaBeta Advisors, on the firm’s services.
Among the projects AlphaBeta Advisors has recently worked on include contributing to the Australian Government's AI roadmap; an assessment of drone delivery in Australia in a delivery context for businesses, consumers and society, and helping the Australian Chamber of Commerce in ASEAN with drafting an agri-food product export strategy for Northern Australian producers to ASEAN nations.
“In its short history, AlphaBeta Advisors has carved out a unique and differentiated position in the local marketplace,” commented Bob Easton, chairman of Accenture in Australia and New Zealand.
The integration will see AlphaBeta Advisors become part of Accenture Strategy, the firm’s division focused on strategic and management consulting services. Easton: “Their track record and approach to strategy and consulting will boost the specialised strategic advice Accenture offers clients to help them achieve competitive agility by turning data-driven insights into real action and impact.”
The move comes within two weeks of another acquisition for Accenture in Australia, that of supply chain IT consultancy Icon Integration. It marks the fifth deal in the space of eight months, following the bolt-ons of Apis Group in December 2019; big Analytics8 in August 2019; and BCT Solutions in June 2019.
A broader portfolio
Asked why AlphaBeta Advisors decided to give away independence to join the consulting giant, Charlton said, “Following a period of rapid growth, we are ready to take our business to the next level. By joining forces, we will be best positioned to guide clients on the journey from strategy through to execution.”
The full team of AlphaBeta Advisors will transfer to Accenture, including a raft of former McKinsey & Company (including leaders Toby Brennan and Kate Pounder) and Boston Consulting Group (including leaders Jim Minifie and Shaun Chau) consultants. Fellow senior Phil Senior meanwhile previously served L.E.K Consulting for six years.
“By joining forces with Accenture, we will be best positioned to guide clients on the journey from strategy through to execution.”
The Singapore office of AlphaBeta Advisors is not part of the Accenture transaction and will continue to operate independently. The Singapore team is about 15-strong and is led by Fraser Thompson, who previously worked at McKinsey & Company for almost nine years as a consultant and senior fellow at McKinsey Global Institute, and worked as a consultant at the World Bank and Boston Consulting Group.
In related deals in the strategy consulting space, McKinsey last month invested in US cybersecurity company Praetorian and acquired Orpheus in Germany. BCG’s latest deal was that of AllofUs in the UK (merged into its BCG Platinion business), while Bain & Company late 2019 closed the largest deal in its history with the acquisition of Scandinavian strategy consultancy Qvartz.
