Acquisition will help systems integrator expand markets, grow revenue
Global systems integrator Accenture is again dipping into its $1.5 billion acquisition funds, buying Bow & Arrow, a company that helps technology and media companies find new business opportunities and markets to expand into.
The Lowdown: The acquisition of U.K.-based Bow & Arrow dovetails with Accenture’s purchase earlier this month of Happen, a consultancy that works with organizations to come up with new ideas, products, and services to drive their businesses.
The Details: Bow & Arrow, founded in 2009, works in the emerging business area of white space identification, or the ability to find opportunities for companies to grow their business in new markets. The consultancy will bring such capabilities to Accenture, with the goal of finding new markets, customers, and revenue streams.
Bow & Arrow’s Crossbow methodology leverages analytics and other tools to help organizations launch new products and services. The company focuses on communications, media, and technology firms. Its Start Up teams bring together people with a variety of skills in such areas as commercial, research, strategy, products, and analytics and work together throughout the Crossbow process.
No financial details of the deal were released.
Background: Accenture has spent more than $1 billion this year for more than a dozen companies, part of an aggressive M&A strategy the integrator kicked off in January to grow its capabilities in such areas as the Internet of Things (IoT), Big Data, wireless, and the cloud.
The Buzz: “Research has shown communications and media to be the most disrupted industry in the U.K., so these companies are looking for growth opportunities outside of their core businesses,” said Joy Bhattacharya, head of Accenture Interactive in the U.K. and Ireland. “It’s hard to identify where that white space is, and even once you’ve found it, you need help to change course and grow in the right direction. The acquisition strengthens our capabilities in guiding clients toward these opportunities for experience reinvention — from discovery to delivery — helping clients find and unlock avenues for business growth.”
“Bow & Arrow’s client-centric approach and novel operating model fit perfectly with how we approach all of our work,” said Lisa De Bonis, communications, media, and technology lead at Accenture Interactive. “Real innovation is not about building something amazing in isolation, but about value, which comes when you can scale something new for your whole business or all of your customers. Bow & Arrow is built on strong people, with specialist skills, and a collaborative approach that makes it an ideal addition to Accenture Interactive.”
“Joining forces with Accenture Interactive is an amazing opportunity to broaden the work we can do with clients,” said Natasha Chetiyawardana, Bow & Arrow co-founder and creative partner. “Our experience of white space innovation complements their extensive expertise in the platforms, creativity, consulting, and venturing. Now we can help identify and implement new opportunities for clients on a global scale.”
“We work with clients when there’s an urgent need for fast growth outside of their core business, but they don’t know what to do next,” said Bow & Arrow founder and CEO Ben Slater. “Working with Accenture Interactive dramatically increases our capacity to provide game-changing implementation too for these clients.”