Accenture buys Australian cloud tech consultancy Industrie&Co

27 May 2021 Consultancy.com.au 3 min. read
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Cloud technology consultancy Industrie&Co has become the latest acquisition of Accenture in Australia, in a deal believed to be worth between $40 to $50 million.

Professional services giant Accenture is back in Australia for its latest purchase; its sixteenth globally. According to Accenture, Industrie&Co, which designs and creates cloud native solutions with a focus on the financial services market, will bolster the firm’s Cloud First offering, with this its third acquisition in the local cloud space in the past eight months.

“Cloud is the foundation for digital transformation and success in the next decade will be defined by the new experiences, products and services that cloud makes possible,” said Accenture Cloud First’s US-based global leader Karthik Narain. “Industrie&Co brings even more cloud-first skills to help Accenture clients innovate with speed, predictability and holistic value as they shape, move and operate their businesses in the cloud.”

Accenture buys Australian cloud tech consultancy Industrie&Co

Founded in 2007, Industrie&Co has grown to a headcount of more than 170 staff spread across offices in Melbourne, Hong Kong, Singapore and its headquarters in Sydney, with 150 expected to cross to Accenture in Australia. Among them are current chief executive and co-founder Con Zeritis and Hong-Kong based managing director and one-time EY consultant Antony Morris, who both cross to Accenture as managing directors.

“We are delighted to have the opportunity to become part of Accenture, we share entrepreneurial values and ambition to drive innovation, growth and business outcomes,” said Zeritis. “Accenture’s vast client network, global scale and investment in their cloud-first strategy makes for an ideal home to enable us to accelerate our growth objectives for both our clients and team.”

According to the Industrie&Co website, the company has completed over 200 client engagements – starting out with Macquarie Bank and NAB – as well as having helped launch over 20 startups to market. With its service lines grouped around strategy & design, agile delivery, software engineering, and cloud & devops, some of Industrie&Co’s other big name clients include ING, AMP, HSBC, the ASX and human capital consultancy Mercer.

“The Industrie&Co team brings to Accenture a strong industry footprint and culture of innovation, that will enable us to drive growth for our clients,” said Accenture’s Australia and New Zealand CEO Tara Brady, who took over just ahead of the recent cloud-acquisitions last year. “In the context of a constrained talent market, Industrie&Co’s skills will ensure we are well positioned to continue to accelerate our client’s growth and innovation capabilities.”

The purchase follows that of Perth-based technology consultancy Electro 80 made earlier this month, and, notably two other regional companies in the cloud space since October last year. The most recent was Melbourne-based AWS and Microsoft Azure consultancy Olikka, adding around 50 experts, which followed shortly after the pick-up of 200-strong SAP and cloud consultancy Zag, with offices in Wellington, Auckland, Sydney and Melbourne.