- Accenture recently announced it entered an agreement to buy Nytec. These are the details about the deal.
Accenture recently entered into an agreement to buy Nytec, which is an award-winning product innovation and engineering company that was founded in 1975 and is based in Kirkland, Washington. Nytec has a team of 250 professionals working at the company.
Nytec is going to become part of Accenture Industry X.0, which offers capabilities that drive the digital reinvention of industry. And this includes creating new types of products, services and experiences, and better ways to design, engineer, manufacture, operate, and support them across the whole lifecycle.
Nytec is going to expand Accenture Industry X.0’s ability to innovate connected, Internet-of-Things (IoT)-enabled experiences for clients from idea through to realization — an area where both Accenture and Nytec have already demonstrated success. And Nytec is a Select Innovation Partner for IoT Equipment Design and Engineering for Carnival Corporation’s Ocean Medallion guest experience transformation while Accenture has been named Premier Innovation Partner for Carnival Corporation’s Global Experience and Innovation Team.
“Our ambition is to become a key partner for clients wanting to transform their business through innovation that is coming from the fusion of software, physical products and connectivity,” said Craig McNeil, Managing Director of North America Industry X.0 + Global Product X.0 at Accenture. “We’ve been building the skillset to deliver on this ambition, in part through our acquisitions of hardware engineering company Mindtribe and embedded software development firm Pillar Technology, and with Nytec we will continue to expand it.”
Going forward, Nytec will add deep expertise in software platform development and engineering to Accenture Industry X.0 that is required to build the underlying IoT infrastructure and systems for connected experiences particularly for clients in the consumer tech, industrial high tech, hospitality, travel, and consumer goods and services industries.
Nytec operates an end-to-end LEED Platinum certified Product Innovation Center (PIC) in Kirkland, WA where it offers design, prototype development, engineering, and support services for manufacturing. And Accenture is planning to expand the PIC and bring it into its network of Forges — which is part of its global Industry X.0 Innovation Network of more than 20 facilities. The network combines startup thinking with rapid prototyping, delivery, and ramp-up capabilities to co-develop new products and services with clients and bring them to market quickly.
“Our designers, engineers, and manufacturing experts translate complex problems into compelling, simple solutions that deliver the ultimate user experience,” added Rich Lerz, CEO of Nytec. “Becoming part of Accenture Industry X.0 will allow our team to scale services for our clients and get access to the best brands in the world.”
Some of the other acquisitions that have strengthened Accenture Industry X.0 include product design and innovation firm Altitude in Boston, strategic design consultancy designaffairs, and technology consultancy Zielpuls, both in Munich, Germany.
This transaction is subject to customary closing conditions. And the financial terms were not disclosed.
Here are some books about leadership you may be interested in:
Pulse 2.0 may receive a commission for products purchased through this article
Trending on Pulse 2.0
- Google Cloud Hires Brigette McInnis-Day As HR Head
- PwC Is Spending A Massive $3 Billion To Upskill Its Employees
- Bed Bath & Beyond: Mark Tritton Appointed As President And CEO
- Report: Apple Is Aiming To Launch Its Own 5G Modem For iPhones In 2022
- Telemedicine Company Parsley Health Raises $26 Million In Funding