This week, IT behemoth Accenture announced yet another acquisition: the global systems integrator has closed a deal to acquire Nytec, a company specialized in Internet of Things (IoT) engineering and software. Specific deal terms have not been disclosed.
This deal is merely the latest addition to Accenture's long list of recent acquisitions, with the firm announcing in March that it planned to spend $1.5 billion acquiring companies by the end of the company's fiscal year on August 31st. The multinational giant particularly targeted companies in the digital, cybersecurity and cloud sectors. While Accenture hasn't specifically indicated that it plans to continue this trend in the current fiscal year, its acquisition of Nytec could be an indication of an ongoing acquisitive bent.
Kirkland, Washington-based Nytec was founded in 1975 and currently counts over 250 employees. The company had grown to focus heavily on IoT products. Accenture plans to fold the acquired firm's team into their Industry X.0 business, where their focus will be on markets ranging from consumer and industrial high tech to consumer goods, hospitality and travel.
Craig McNeil, Accenture's Industry X.0 lead for North America, expounded on how this latest acquisition will help build upon his firm's other recent purchases: 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. 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.”
Nytec CEO Rich Lerz was equally bullish about the opportunities offered by the merger: Our designers, engineers, and manufacturing experts translate complex problems into compelling, simple solutions that deliver the ultimate user experience. 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.”
Nytec currently operates an end-to-end Product Innovation Center (PIC) in Kirkland focused on design, prototype development, engineering and manufacturing support services. Accenture has indicated that it plans to maintain these facilities and bring it into its own global network of Industry X.0 Innovation Network facilities.