Accenture plc (ACN - Free Report) recently completed the acquisition of BRIDGE Energy Group — a Boston-based consulting and systems integration firm. The terms of the deal have been kept under wraps.
BRIDGE provides grid modernization, analytics and security services to North American electric utilities. It is proficient in helping clients create, utilize and manage solutions for industry challenges (which include new regulations, aging workforce, extreme weather events); proliferation of distributed energy resources (DER) such as solar, wind power, storage and electric vehicles along with real-time operations, DER management, transmission renewables integration, grid analytics and grid security compliance.
Deal Details & Benefits
BRIDGE’s expertise and strong relationships with transmission and distribution leaders, managers and subject matter experts should boost Accenture’s portfolio of end-to-end services for electric transmission and distribution service providers.
“Similar to our 2015 acquisition of the Structure Group, BRIDGE will help us meet growing demand from our utilities clients for evaluating and applying new and emerging technologies, including advanced analytics, artificial intelligence, the cloud and blockchain, to develop the grid of the future”, stated Stephanie Jamison, managing director of Transmission and Distribution business at Accenture.
BRIDGE’s employees have joined the utilities practice of Accenture’s Resources operating group.
The acquisitions should also complement Accenture’s strong growth in the North America region. In the first six months of fiscal 2019, the region contributed the largest chunk (around 45%) to the company’s net revenues and grew 8% year over year on a reported basis and 9% in local currency.
We believe Accenture’s acquisitions strategy, which helps it broaden its product portfolio, market share and boost revenues, gives it an edge over competitors like Genpact (G - Free Report) , Cognizant Technology Solutions (CTSH - Free Report) and Automatic Data Processing (ADP - Free Report) .
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