BrightTower advises procurement spend management firm ClearEdge Partners on sale to Accenture

0

NEW YORK, November 9, 2021 / PRNewswire / – Accenture (NYSE: ACN) Acquires ClearEdge Partners, Inc., a Procurement Spend Management Company, to Help Customers Accelerate Technology-Driven Businesses by Better Managing Spend digital transformation. Terms of the transaction were not disclosed.

Light Tower, a leading investment bank and M&A advisory firm, acted as the exclusive financial advisor to ClearEdge Partners in this transaction.

ClearEdge Partners brings proprietary methodologies, deep expertise and solutions for information technology (IT) expense management and software asset management. These capabilities with Accenture SynOps The platform will give Accenture the opportunity to extend its purchasing knowledge and expertise to strengthen spend management and improve work methods, ultimately generating cost savings and added value for businesses. clients.

The expansion of digital transformation programs continues to drive increased IT spending among businesses. Industry Forecast by Gartner® projects global IT spending to be achieved $ 4.1 trillion at the end of 2021, up 8.4% compared to 20201. However, according to Accenture, up to 30% of the value of IT spending is lost due to the complexity of licensing and lack of spending control.

“As the pandemic has accelerated the speed of digital adoption, organizations now find themselves at an inflection point where sustainable growth will be defined by those who create value faster and maximize the impact of those investments.” , said Manish sharma, Managing Director of the Accenture Operations group. “We are delighted to welcome ClearEdge Partners to our team, adding significant IT category expertise to our procurement business while expanding our ability to help deliver breakthrough value to our customers. “

Based in the Boston domain, ClearEdge Partners brings together around 100 professionals Accenture operations, along with deep category expertise, advanced analytics and software asset management, providing category strategy, procurement support, and IT spend management.

Jack Garrahan, Co-Founder and Managing Director of ClearEdge Partners, added: “Since launching ClearEdge Partners 15 years ago, we have developed unmatched expertise and capabilities to help our clients maximize the value of their digital transformation spend . With Accenture, our shared vision for the future and combined capabilities will accelerate our ambition and allow us to have an even greater impact. “

About Accenture
Accenture is a global professional services company with industry-leading digital, cloud and security capabilities. Combining unparalleled experience and specialized skills in more than 40 industries, we offer strategy and advisory, interactive, technological and operational services, all powered by the world’s largest network of advanced technology and intelligent operations centers. Our 624,000 employees deliver on the promise of technology and human ingenuity every day, serving customers in more than 120 countries. We embrace the power of change to create value and shared success for our customers, employees, shareholders, partners and communities. Visit us at www.accenture.com.

About BrightTower
BrightTower is a leading investment bank and M&A advisory firm specializing in software, technology marketing, business / IT services, and information. Primarily focused on accelerating the growth of technology-based, data-driven and subscription-based companies, BrightTower helps clients stay ahead of rapidly changing markets. Visit us on LinkedIn.

______________________________
1 Gartner press release, Gartner predicts global IT spending to reach 4 trillion dollars in 2021, April 7, 2021 GARTNER is a registered trademark and service mark of Gartner, Inc. and / or its affiliates in the United States and internationally, and is used here with permission. All rights reserved.

SOURCE BrightTour

Share.

Comments are closed.