Accenture has agreed to acquire IBB Consulting, an information technology startup that specializes in helping broadband, cable and mobile operators, and media companies chart a digital journey.
Philadelphia-based IBB has 160 employees that, once the deal is closed, will all join Accenture Strategy, a unit of Accenture designed to provide technology consulting services.
Most of IBB’s employees are based in North America, with a few of them operating out of Australia. Terms of the deal, which is expected to close in 30 to 45 days, were not disclosed.
Founded in 2011, IBB comes with numerous clients in the media & communications industry. Analysts say Accenture can tap into this client base and try cross-selling some of its services, such as BPO and internet of things (IoT) and data analytics.
With operators moving toward 5G networks and cable companies going wireless, the telecom sector is offering a new market for IT firms to sell their digital solutions.
“Our goal has always been to help clients innovate rapidly with a full life-cycle project approach, from ideation to execution,” said Dr. Imran Shah, Co-founder and Managing Partner at IBB Consulting.
The deal is just the latest in a string of acquisitions Accenture has made this year as it strives to change into a technology transformation services provider from a mere IT outsourcing firm.
“Companies across all industries are staking claims in the digital world, disrupting media, communications, high tech companies, and IoT players, fueling deep competition from industry stalwarts and nimble new entrants alike,” Mark Knickrehm, CEO of Accenture Strategy, said in a statement.
A month ago, Accenture bought consulting firms Search Technologies and Brand Learning. That came after its purchase of LabAnswer, a Texas-based informatics consultancy and Intrepid, a Boston-based mobile design firm.