Software major Accenture is acquiring umlaut, an engineering consulting and services firm headquartered in Germany, for an undisclosed sum to scale its deep engineering capabilities and help companies use digital technologies, the company said on June 15, Tuesday.
The acquisition will add more than 4,200 industry-leading engineers and consultants across 17 countries to Accenture's Industry X'services, and expand its capabilities across a range of industries, including automotive, aerospace and defense, telecommunications, energy and utilities, the company said in a statement.
"Covid-19 has accelerated the need for companies to transform these core operations, and umlaut's leading and highly-specialised engineering services will enhance our ability to meet the accelerating demand and also continue innovating for our clients," said Julie Sweet, chief executive officer, Accenture.
Umlaut will be next in a series of 22 acquisitions Accenture has made since 2017 to build its 'Industry X' capabilities.
'Industry X' combines Accenture's data and digital capabilities with deep engineering expertise to offer clients a suite of services for digitising their engineering functions, factory floors and plant operations and improving productivity.
"We are excited to bring our unique engineering and consulting culture, deep industry know-how and subject matter expertise to Accenture Industry X and jointly create the capabilities and scale to help clients successfully transform," said Marc Peter Althoff, chief technology officer, umlaut.
Recently, in findings of a global survey Accenture had put out in May, the company said that the COVID-19 pandemic has changed the way people live, work and socialise, accelerating demand for innovation, as retailers, consumer goods, and travel companies shift from reacting to the crisis to reinventing products and services.
The survey involved 9,650 people in 19 countries including more than 500 people in India.
"The past year has been a tough one for consumers and consumer-facing industries. Evolving consumer preferences and behaviours have led to huge demand fluctuation, making it imperative for consumer goods and retail companies to stay agile and resilient. As companies shift from reaction to reinvention, they need to harness digital's full potential across the value chain at speed and scale," said Anurag Gupta, managing director and lead - Strategy & Consulting, Accenture in India.