Why Accenture Is Buying Innotec Security, The Shelby Group, And Solnet

By Amit Chowdhry • Nov 16, 2023

Accenture recently announced that it is buying Innotec Security, The Shelby Group, and Solnet. These are the details.

Innotec Security Deal

Innotec Security is a privately held company specializing in cybersecurity-as-a-service, cyber resilience, and cyber risk management. This deal expands its capabilities and footprint in Spain. And Innotec Security was previously owned by parent company Entelgy Group. The financial terms were not disclosed.

Launched in 2002 and headquartered in Madrid, Spain, Innotec Security is one of the Spanish market’s most prominent cybersecurity service providers. The acquisition of Innotec Security—which also has a presence in Barcelona, Seville, and the Basque Country—will add 500 cybersecurity professionals to Accenture Security’s workforce of 20,000 professionals globally – making Accenture Security one of the top managed security services (MSS) players in Spain.

Innotec Security offers a range of cybersecurity services, including threat simulation, detection, response and incident management, cyber intelligence, infrastructure and application security, cyber risk assessment, and security consulting. And the company’s clients include large organizations operating in Spain across sectors such as financial services, energy, logistics, healthcare, transportation, and the public sector.

This acquisition further expands Accenture’s ability to provide clients with much-needed cybersecurity skills and expertise. And according to Accenture’s Cyber-Resilient CEO report, 70% of CEOs in Spain from large organizations (revenues >US$1 billion) are concerned about their organizations’ ability to avert or minimize damage to the business from a cyberattack. Yet nearly two-thirds (63%) of CEOs said their organizations do not incorporate cybersecurity into business strategies, services or products from the outset.

Since 2015, Accenture Security made 19 acquisitions. And following its January 2020 acquisition of Symantec’s Cyber Security Services business, Accenture became one of the leading global providers of MSS. Accenture further strengthened its cyber defense and MSS capabilities in Europe through the acquisition of Sentor and Openminded in 2021 and in Latin America with the acquisition of MNEMO Mexico, Morphus, and Real Protect.

Other deal. Accenture has made to support its clients’ supply chain and sourcing and procurement transformations include Xoomworks Group, a consulting and technology company headquartered in London that specializes in procurement technology, digital innovation, and software solutions development; ClearEdge Partners (a firm specializing in procurement spend management, headquartered in Boston); MacGregor Partners (a supply chain consultancy and technology provider specializing in intelligent logistics and warehouse management, headquartered in Raleigh, North Carolina); and Blue Horseshoe (a supply chain management and strategy consulting firm and systems integrator headquartered in Carmel, Indiana).

The Shelby Group Deal

The Shelby Group is a leading provider of digital procurement and optimization services. The acquisition further enhances Accenture’s capabilities in sourcing and procurement technology transformation. The financial terms of the transaction were not disclosed.

Launched in 2002 with headquarters in Schaumburg, Illinois, The Shelby Group is a procurement technology consultancy with deep experience in Coupa and Ivalua solutions. And it helps clients in the manufacturing, financial services, consumer, healthcare, and technology industries transform procurement operations by increasing spend visibility and task automation and decreasing cost and risk. The Shelby Group’s team of 172 highly skilled sales and delivery​professionals will join the Connected Solutions group within Accenture Technology, bolstering its position as a Coupa Global Elite partner and growing its relationship with Ivalua.

Solnet Deal

Solnet is an IT services provider with deep technology consulting experience for New Zealand government and private organizations across multiple industries. The terms of the transaction were not disclosed.

With headquarters in Wellington, New Zealand, Solnet’s team of over 100 technologists will join Accenture. And Solnet’s services and solutions will bolster Accenture’s local cloud and infrastructure engineering offerings, helping clients tap into a full continuum of technical capabilities to accelerate their digital transformation.

Solnet provides end-to-end consulting, solutions development, and managed services & operations, which enable it to support long-term engagements. And its advisory services focus on developing strategies and delivering the potential of new technologies. Solnet is also a local leader in intelligent automation, with solutions for helping clients design, automate, and optimize complex business processes.

Key Quotes About Innotec Security Deal

“Our clients count on us to help them better protect and defend their enterprises across their entire ecosystem. Innotec Security is an excellent and well-regarded company in Spain with a highly skilled cybersecurity team, which will significantly enhance our security footprint in the market. Importantly, this acquisition will also expand our regional capabilities and resources and help us address the growing demand we’re seeing for managed security services across Europe.”

— Paolo Dal Cin, global lead of Accenture Security

“We’re delighted to welcome Innotec Security’s talented team to Accenture Security as we build on our established market leadership in cybersecurity services. With the acquisition of Innotec Security, we are materially expanding our presence in Spain and adding to our robust MSS capabilities and the in-demand cybersecurity skills we offer clients both locally and globally.”

— Agustín Muñoz-Grandes, who leads Accenture Security in Spain and Portugal

“Our strategy has always been to deliver exceptional cybersecurity services to our clients and to be one of the best companies to work for. Accenture’s industry-focused approach to cyber defense and its company culture is a great fit for us. Becoming part of Accenture is an excellent opportunity for us to deliver even more value to our growing client base and we’re excited for the next steps on our journey together.”

— Félix Muñoz, CEO of Innotec Security

Key Quotes About The Shelby Group Deal

“In an environment characterized by ongoing disruption, businesses are looking to deliver sustainable savings, reduce risk and support business growth. The depth of The Shelby Group’s digital procurement experience helps us meet growing client demand for sourcing and procurement transformation.”

— Emma McGuigan, senior managing director and Enterprise & Industry Technologies lead at Accenture

“For more than 20 years, we have helped our clients reimagine the strategic value of their procurement function. Our goals of delivering savings and operating efficiencies, along with improved treasury and risk management results through digitization will continue. As part of Accenture, we will further scale our solutions and accelerate innovation, providing exciting new opportunities for our people and our valued clients.”

— Jim Kandilas, CEO and co-founder, The Shelby Group

Key Quotes About Solnet Deal

“Cloud is the most powerful tool for organizations to scale rapidly and navigate change. Solnet brings its extensive experience and strong client relationships. Accenture brings vast global cloud, data and AI resources. This is a winning combination for New Zealand organizations to digitize faster and become more resilient.”

— Andy Tay, global lead of Accenture Cloud First

“New digital technologies are driving productivity across private and public organizations, helping Aotearoa New Zealand to be more competitive in the global economy and improving the services offered to New Zealanders. Solnet has developed an impressive solution design and delivery skillset in this space, and they have a strong heritage of delivering large scale projects. Having the Solnet team join us brings more talented support for our clients to meet their growth objectives and modernize their technology systems for the future.”

— Peter Burns, who leads Accenture’s business in Australia and New Zealand

“For 20 years, we’ve built an impressive team of technically skilled and deeply experienced talent. Joining Accenture now gives our people global growth opportunities to broaden their exposure and career potential. We will continue to offer our clients the personalized experience, quality service and support they know and expect. Lastly, we look forward to growing with Accenture and continuing to accelerate critical business goals for our clients as we add global strength to our local roots.”

— Mark Botherway, managing director at Solnet