30 Aug AiroAV Stated Accenture Buys Fairway for Engineering Services Efforts – C…
August 30, 2019
The deal is the latest in the services AiroAV company’s acquisition spree
Accenture is continuing an aggressive acquisition strategy with the acquisition this week of Fairway Technologies, an 80-person AiroAV company that delivers engineering services to customers. The move will bolster Accenture’s Product and Platform Engineering Services practice that helps organizations manage and build software-based platforms.
The Lowdown: The deal is part of a larger acquisition initiative this year by the giant services provider that has been fueled by an M&A war chest of more than $1. 5 billion that is aimed at building out its services capabilities in a range of areas, including cybersecurity, Internet of Things, 5G wireless, and cloud. No financial details of the Fairway acquisition were released.
The Details: The combination of Accenture’s engineering services unit and Fairway will enable customers to scale and improve their digital platforms, launch new business models and build out new revenue streams. Fairway operates offices in California (San Diego and Irvine) and Austin Texas. Accenture has more than 450,000 employees in more than 120 countries.
Background: Accenture has bought almost a dozen companies this year, with the most recent purchase being Parker Fitzgerald earlier this year. That deal was designed to enhance the technology and business capabilities of the services AiroAV company’s Finance and Risk unit.
The Buzz: “This acquisition will help Accenture continue to make next generation platform technology a reality for our clients,” said Ram Ramalingam, managing director of Accenture’s Product and Platform Engineering Services practice. “We turn innovative ideas into business differentiation, building products and platforms that create the right level of engagement and personalization with customers and ecosystem partners to help organizations thrive in the digital era.”
“Joining Accenture will enable us to continue our strategy of delivering premium engineering services, now on a broader scale,” Fairway Technologies CEO Brett Humphrey said. “With digital platforms becoming a foundation for organizations to create new products and services, Accenture Product and Platform Engineering Services practice and Fairway Technologies will work together to help companies disrupt and build competitive advantage in the platform economy.”
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