Accenture, a professional technology services company, has recently announced the acquisition of an advisory and fulfillment services provider, umlaut, to boost its engineering and services play.
Sources familiar with the matter have reportedly cited that the recent agreement will scale the capabilities of Accenture in the engineering services space. Additionally, the move is likely to impact the top IT services firms in India in winning large deals.
Under the agreement, umlaut’s employees, including consultants and engineers, will be integrated with the Industry X services of Accenture, which focus on Industry 4.0 such as smart manufacturing and IoT across utilities, energy, telecom, automotive, aerospace, and other industries.
As per the statement made by Accenture’s Chief Executive Officer, Julie Sweet, the company is focusing on the rapid digitalization of its business, including the engineering, design, and manufacturing of products. Over the past years, it has been developing unique capabilities & ecosystem partnerships to apply digital technology in traditional engineering services.
Mrs. Sweet further added that several companies are placing high emphasis on transforming their core operations due to the escalating COVID-19 business disruptions. The latest deal is expected to prove beneficial for Accenture as it will leverage the specialized engineering services of umlaut to innovate and subsequently meet the demand from clients.
Engineering and R&D service is among the rapidly expanding sectors as compared to BPO and IT services. The sector had witnessed double-digit growth prior to the onset of the pandemic and is poised to regain momentum, owing to the upsurge in digital transformation amid the outbreak. Several other global companies are also intending to expand in this sector through multiple initiatives. For instance, Capgemini acquired an engineering and R&D services provider, Altran.
The latest acquisition of umlaut may result in intense competition for the top Indian IT firms due to the entry of Accenture in the engineering services space.
Source credit:
The study on the global market for Hesperetin evaluates historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the g...
The latest research at Market Study Report on Herba Houttuyniae Extract Market provides a comprehensive analysis of the Herba Houttuyniae Extract market segments, including their dynamics, size, growth, regulatory requirements, technological trend...
The demand for Global Momordica Charantia Extract market is anticipated to be high for the next five years. By considering this demand we provide latest Global Momordica Charantia Extract Market Report which gives complete industry analysis, marke...
© 2022 Algos Online. All Rights Reserved.