Octo Technology will pass into the fold of Accenture
- By accepting the takeover bid from Accenture, Octo Technology gives way to the concentration of the sector to open up to new customers.
- Ultimately, Accenture intends to integrate the 315 employees of Octo into its structure.
- Accenture wants to establish its market share in France in a context of increased competition from consulting firms.
The global Accenture group will acquire 47.3% of the capital of Octo Technology, a French digital strategy consulting firm. Its founders, including François Hisquin, the president of Octo, accepted this first offer which should lead to a takeover bid by Accenture for the firm.
The founders will sell their stake at a price of 22.50 euros per share. This price represents a 43.8 percent premium over the closing price of the OCTO share. The transaction values Octo Technology at around 115 million euros.
By selling itself to the consulting company established in 55 countries, Octo wants to open its portfolio of clients internationally. The French firm is already present in Morocco, Switzerland, Brazil and Australia. For its part, Accenture plans to consolidate its market share in France, in a context of increased competition from consulting firms. Octo achieved a turnover of 38.4 million euros in 2015 and employs 310 people. He regularly targets “25% annual growth and double-digit profitability.”
Octo’s strategy is also to “penetrate sectors in which it has historically had little presence“. “Our proposal to integrate OCTO into our activities testifies to our desire to give a new dimension to our digital offer in France.»Explains Christian Nibourel, President of Accenture in France and Benelux.
The Octo Technology firm is notably the organizer of the annual “USI” (Unexpected Sources of Inspiration) conference, with which it mainly brings together American thinkers from the West Coast on digital themes.
Eventually, Octo will be integrated into the French subsidiary of the group, which has 375,000 employees worldwide. Accenture reported net income of $ 31 billion in 2015.
REVIEW: Interview with Eric Biernat, Big Data Analytics Director at Octo Technology