BrazilAccenture acquires Oracle APAC partner of the year PrimeQ in Australia
Professional services powerhouse Accenture has picked up Australian Oracle specialist PrimeQ amid a late-year flurry of acquisitions.
Already an Oracle Global Cloud Elite Partner alongside the elite likes of PwC and Deloitte, and with over 50,000 skilled Oracle consultants worldwide, professional services giant Accenture has become the largest provider of Oracle Cloud integration services in Australia and New Zealand with the purchase of current APAC Oracle Partner of the Year (SCM Cloud) PrimeQ in a deal worth $31 million.
The Adelaide-based firm was founded in just 2016 and has since rocketed to prominence in the Oracle SaaS enterprise resource planning space (also named the Oracle ERP Partner of the Year for APAC in 2017), providing Oracle Cloud services to government, health and public service clients along with serving the retail, consumer goods and financial services sectors, specialised in area such as transportation, warehouse and customer relationship management.
“PrimeQ has extensive experience implementing Oracle SaaS Cloud solutions, which complements Accenture’s established credentials across the Oracle Cloud portfolio,” said Accenture’s Oracle lead in Australia and New Zealand James Madigan. “They are a highly valued Oracle ecosystem partner, bringing an impressive track record and top talent that will help drive significant results for our clients.”
According to reports, PrimeQ, which posted revenue of ~$28 million in its previous financial year (up from $9 million the year prior to achieve profitability) will operate under its existing name for a brief period of time before eventually being phased out, with the deal boosting Accenture’s Oracle-proficient local headcount by approximately 160 to more than 500 professionals while enhancing the technical capacity of both parties.
“On premise has been good business for us,” Madigan told the Australian Financial Review, “but Oracle and our partners have been pivoting a lot to cloud products and we want to increase the speed and growth of our cloud practice and capabilities, so we had been looking at organic and inorganic ways to do that. We started talking to PrimeQ back in May and then fairly quickly and mutually determined that it would be a good transaction for both organisations."
PrimeQ co-founder and CEO Andrew McAdams added; “We can configure a system in six weeks' time, we're very agile, but it does require change management at the other end and we haven't been very good at that. [Accenture] will bring that transformational layer which brings a real difference… PrimeQ is very pleased to join Accenture as it will help create good outcomes for our customers, our people and our shareholders.”
The acquisition follows the earlier additions of Oracle specialists Certus Solutions in the UK and DAZ Systems in the US, and comes amid a flurry of recent cross-sector M&A activity for Accenture, including, in just the past month alone; the purchase of the professional service assets of fintech firm Zafin in Canada; the pick-up of digital media firm Adaptly, data-intelligence firm Knowledgent, and technology consulting firm Enaxis in the US; and the acquisition of financial services-focused tech consultants SEC Servizi in Europe.
