Accenture is set to acquire EnergyQuote after entering into an agreement with the firm last week. Terms of the deal were undisclosed.
The move makes Accenture an even bigger fish in the European energy procurement and management services sector.
EnergyQuote’s 279 staff are expected to transfer to Accenture upon deal completion and the company said clients would benefit from the acquisition.
“Since its founding in 1992, EnergyQuote JHA has developed specialized technology and expertise in key areas that complement Accenture’s existing energy procurement and management offerings,” said Jonathan Lydiard-Wilson, CEO, EnergyQuote JHA. “This agreement with Accenture will benefit the clients of both companies, combining our proprietary technology and extensive energy market intelligence with Accenture’s own industry leading procurement capabilities and global reach.”
“Clients are increasingly seeking a single provider of energy procurement and management services that can address the full spectrum of needs – from reducing demand and risk to improving pricing and payment accuracy – across all geographies,” said Mike Salvino, group chief executive, Accenture Operations. “This acquisition will extend Accenture’s industry leading position in the procurement market and enhance our ability to provide comprehensive energy management services, putting us in an even better position to provide innovative business process services that deliver business outcomes to our clients.”