Accenture (NYSE:ACN) has entered into an agreement to acquire Procurian, a leading provider of procurement business process solutions. The acquisition will further enhance Accenture’s capabilities in procurement business process outsourcing (BPO) across a range of industries including consumer goods, high-tech and financial services and will add key analytics capabilities and technology assets.
Accenture has agreed to pay US$375 million in cash for Procurian, subject to certain adjustments at closing, including for working capital, cash, debt and other items.
“This acquisition will further strengthen Accenture’s industry-leading capability in procurement BPO," said Mike Salvino, Accenture's group chief executive for BPO. “The addition of Procurian’s deep strategic sourcing category expertise, advanced analytics capabilities and delivery resources will complement and scale our already-significant sourcing and procurement business services. As a result Accenture will be even better positioned to provide clients around the world with 4th- and 5th-generation BPO procurement services to drive real and sustainable business outcomes.”
Headquartered in King of Prussia, Pa., Procurian is one of the leading procurement BPO providers globally. Procurian focuses on delivering strategic sourcing business process services to the Global 2000. The company has delivery locations in the United States, India, the United Kingdom, the Czech Republic, China and Brazil. Procurian is a subsidiary of ICG Group, Inc. (Nasdaq:ICGE).
Procurian’s approximately 780 employees are expected to join Accenture in connection with the transaction, which is expected to close by the end of 2013, subject to the satisfaction of customary closing conditions.
“This agreement with Accenture will benefit clients of both of our companies, providing global capabilities and scale along with a significant depth and breadth of category and industry expertise,” said Carl Guarino, CEO of Procurian. “We share a passion for helping clients achieve business outcomes through higher-value sourcing and procurement solutions.”
Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is
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