Accenture recently announced it is buying Redkite and Vocatus. These are the details.
Redkite Deal
Redkite is a UK-headquartered data consultancy specializing in full-stack data expertise to help organizations accelerate their performance with data-driven intelligence and AI. The acquisition will expand Accenture’s data capabilities to help clients accelerate transformation with modern data platforms that unlock the power of AI across the enterprise.
Through a deep expertise in the consumer goods and services, retail, and media industries, Redkite helped some of the UK’s most ambitious growth companies and household name brands launch new products and services, make better data-driven decisions, and create personalized customer experiences. Based in London and founded in 2018, Redkite brings many capabilities, from data strategy to architecting and implementing modern data platforms. Redkite’s team of more than 230 professionals will join Accenture’s Data & AI practice in the UK.
This deal forms part of Accenture’s recently-announced $3 billion investment over three years in its Data & AI practice to help clients across all industries rapidly and responsibly advance and use AI to achieve greater growth, efficiency, and resilience. And the Data & AI practice will double its AI talent to 80,000 professionals through a mix of hiring, acquisitions, and training. Redkite also complements Accenture’s acquisitions in the UK of cloud and digital transformation consultancy Infinity Works in 2021 and analytics and data transformation services consultancy Mudano in 2020.
The financial terms of the transaction were not disclosed.
Vocatus Deal
Management consultancy Vocatus utilizes behavioral economics modeling to develop pricing strategies and sales concepts for business-to-business and business-to-consumer models. The terms of the deal were not disclosed.
By acquiring Vocatus, Accenture expands its offerings for European clients with greater modeling capabilities for identifying price levels and sales optimization, differentiating from competitors, and communicating with customers—using behavioral economic effects to predict decision-making and align incentive systems.
Based in Munich, Vocatus and its more than 50 experts will join Accenture’s Corporate Strategy, Growth and Pricing division. And for nearly 25 years, the company has been supporting businesses in sectors like financial services, media, and telecommunications. Vocatus also developed a proprietary, comprehensive method called GRIPS to identify purchasing behavior and buyer types for specific markets. This method has been verified in over 500 qualitative and quantitative studies for clients across 30 countries since 2008.
This deal is subject to customary closing conditions.
Key Quotes About Redkite Deal
“AI is a significant catalyst and opportunity for business transformation. In order to move from experimentation to scaled implementation, our clients need a strong data and AI foundation, and they need to be value-led in every capability they choose to reinvent with generative AI. The powerful combination of Accenture and Redkite’s capabilities, expertise and services will help clients make the shift to scale AI investments, rapidly and responsibly.”
- Kayur Rughani, a managing director in Accenture’s Data & AI practice
“We all know the next technology revolution is here, but data readiness is the top challenge for companies as they move forward with AI adoption. For companies to embrace the opportunity of data and AI, they need strong digital foundations in the cloud across their business. Joining Accenture means we can become a stronger force for our clients to set their data strategies in motion and fuel their organisations with intelligence.” Henry Crawford, managing director at Redkite, added, “Together we will create more opportunities for our people and clients – leveraging our data capabilities and academy training model as we embark on the next critical phase of the AI journey.”
- Jon Tippell, managing director at Redkite
Key Quotes About Vocatus
“Vocatus brings a differentiated approach to behavior-based pricing that will help our clients gain a competitive edge and improve their market position. The acquisition complements our offerings in implementing growth and efficiency strategies with a view toward pricing and sales optimization.”
- Johannes Trenka, Accenture’s strategy, growth and pricing lead in Europe
“Business and customer needs and requirements are prone to change—especially in volatile times. With their in-depth knowledge, Vocatus will expand our pricing strategies and modeling, support our clients in modernizing their sales operation and ultimately help boost profitability. Together, we can help companies build resilience and remain competitive for the long term, reinventing their business models in order to keep pace with disruption.”
- Christina Raab, market unit lead of Accenture in Germany, Austria and Switzerland
“Accenture’s scale and global presence open up exciting new perspectives for our team members and clients. Together, we can take behavioral pricing and selling to a new level in a number of industries and offer companies holistic solutions for strategic pricing, as well as tactical price execution.”
- Florian Bauer, member of the executive board of Vocatus
