NEW YORK and ATLANTA; Feb. 13, 2024 – Accenture (NYSE: ACN) has entered into an agreement to acquire Insight Sourcing, a provider of strategic sourcing and procurement services. Insight Sourcing will broaden Accenture’s sourcing and procurement services for private equity companies and the consumer goods, retail, technology and industrial industries.
Insight Sourcing helps its clients optimize costs when sourcing and negotiating contracts for direct materials (e.g., metals, electronics, food ingredients, chemicals, clinical services), indirect materials (e.g., logistics, packaging, IT, marketing), services related to capital expenditures (e.g., construction, facility equipment) and energy procurement management.
The firm will strengthen Accenture with proven expertise in cost takeout strategy powered by category and supplier market intelligence. Insight Sourcing will add approximately 220 sourcing consultants to Accenture’s Sourcing & Procurement practice within its Supply Chain & Operations function. The acquisition will include Insight Sourcing’s bespoke suite of more than 40 technology procurement tools to help clients capture value faster.
Rob Fuhrmann, global lead for sourcing and procurement at Accenture, said:
“Accenture and Insight Sourcing will combine expertise across direct, indirect and capital expense cost reduction with complementary data and technology capabilities to drive efficiency and resilience across our clients’ supply chains. With Insight Sourcing, we are taking another important step to position Accenture as a leading provider in sourcing and procurement advisory and execution services for corporate and private equity clients.”
With Insight Sourcing, Accenture will continue expanding its capabilities for private equity clients. Insight Sourcing currently serves more than 60 companies in this industry, including 10 of the 25 largest funds in North America. Accenture recently acquired two additional sourcing and procurement services providers that support private equity companies, New York-based advisory firm Impendi in January and consultancy The Shelby Group last November.
“Insight Sourcing will be the latest investment we are making to address growing demands from private equity investors, who seek tailored and repeatable solutions that drive value,”
said Muqsit Ashraf, global lead for Accenture Strategy.
“Combined with Accenture’s proven expertise across strategy, advisory, technology and managed services, Insight Sourcing will provide critical spend and sourcing capabilities to our private equity clients and their portfolio companies.”
Tom Beaty, founder and CEO of Insight Sourcing, said:
“Joining Accenture will accelerate our mission of bringing procurement excellence to our clients. Over two decades, we have built a skilled team of professionals who are passionate about being the best in their craft and driving impactful results. As part of Accenture’s sourcing and procurement strategy, we will reach new levels of continued success with increased resources and opportunities.”
Insight Sourcing is headquartered in Atlanta and was founded in 2002. The acquisition will include Insight Sourcing’s energy procurement and management business, Insight Energy.
Terms of the transaction were not disclosed. Completion of the acquisition is subject to customary closing conditions, including receipt of regulatory approvals.
Sourced from: Accenture Newsroom