Accenture seals $31M PrimeQ acquisition
- 11 December, 2018 08:26
PrimeQ management team
Accenture has finalised its acquisition of PrimeQ, in a $31 million deal designed to drive capabilities across the Oracle suite of technologies.
The move comes four weeks after ARN exclusively revealed the acquisition plans, as outlined in documents supplied in the Federal Court of Australia in early November.
With the ink now dry, the agreement positions Accenture as the largest Oracle cloud system integrator across Australia and New Zealand (A/NZ).
"PrimeQ has extensive experience implementing Oracle SaaS Cloud solutions, which complements Accenture’s established credentials across the Oracle Cloud portfolio,” said James Madigan, leader of the Oracle business across A/NZ at Accenture.
"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."
Billed as a key vendor within the provider’s expanding technology practice, Accenture was already one of the world’s leading system integrators of Oracle solutions, backed by more than 54,000 consultants and 20,000 Java-skilled professionals.
Leveraging an alliance spanning over 25 years, Accenture operates as a Global Cloud Elite and Platinum level member of the Oracle Partner Network, and is certified as an Oracle Cloud Excellence Implementer.
The acquisition represents the third Oracle-based acquisition by Accenture within the past year, following the buyouts of DAZ Systems and Certus Solutions.
Accenture took control of US-based DAZ Systems in October, which operates as a specialist provider of Oracle ERP Cloud services.
Meanwhile, the business completed the acquisition of UK-based Certus Solutions in May, designed to enhance the provider’s Oracle Cloud offerings in line with digital transformation deployments.
"PrimeQ is very pleased to join Accenture as it will help create good outcomes for our customers, our people and our shareholders," added Andrew McAdams, CEO of PrimeQ.
"Together, Accenture and PrimeQ will provide our clients with unrivalled Oracle services and enable them to accelerate their digital transformation.”
Since its founding in 2016, Adelaide-based PrimeQ has built its reputation on both sides of the Tasman through selling, installing and supporting Oracle enterprise software via the cloud, and providing long-term annuity protection for its customers.
The start-up had previously indicated that it was eyeing its public listing in a bid to capitalise on the growing business appetite for cloud-based software solutions, while using the funds raised to kick-start a growth strategy focused heavily on targeted acquisitions.
An IPO failed to materialise, and PrimeQ instead acquired fellow local Oracle partner, CRMNow in December 2017, as part of a plan for “aggressive growth” in the local cloud marketplace.
With offices in Sydney and Melbourne, CRMNow has made a name for itself focusing on its namesake, customer relationship management (CRM) software, and claims DXC’s Red Rock and PandaDoc as its vendor partners, along with Oracle.
The acquisition combined PrimeQ’s own expertise in enterprise resource planning (ERP), transportation management and warehouse management, with CRMNow’s experience in CRM software.
The deal was part of PrimeQ’s self-professed plans to become a “powerhouse” for Oracle Cloud across the trans-Tasman markets.