Tue, 02 Mar 2021 | BUSINESS SALE
Professional services firm Accenture has completed its third takeover in the past month with the acquisition of Cheshire-based consultancy Cirrus. The move, for an undisclosed fee, follows its acquisitions of digital consultancies Infinity Works and Edenhouse in February.
These deals come as Accenture looks to grow its consultancy offering through a series of acquisitions that complement its diverse business. Along with Infinity Works and Edenhouse, Accenture has also this year completed the takeover of New Zealand-headquartered SAP and cloud solutions firm Zag.
Cirrus, which has a presence in Australia as well as the UK, is a 70-strong company specialising in consultancy for leadership, talent and digital learning. The company was founded in 2010 by Simon Hayward and offers development solutions in the form of face-to-face or virtual and digital meetings. This digital element has seen the company perform well during COVID-19.
Following the acquisition, Cirrus will join Accenture’s Talent and Organisation/Human Potential team, which works with businesses to improve their leadership and C-suite teams through coaching and development.
Christie Smith, Global Lead for Accenture’s Talent and Organisation/Human Potential division, said: “Our clients look to us for guidance and innovation alongside them in their transformation journeys, especially during times of change. By acquiring Cirrus, we can deliver leadership and talent development programs to serve them at a greater pace and scale.”
Meanwhile, Cirrus CEO Simon Hayward added: “Joining Accenture creates an opportunity to bring our capabilities to more clients seeking expertise in leadership guidance. Together, we’ll be able to bring our innovative digital learning and leadership development services to clients around the world at a time of truly critical need.”
In its most recent accounts, for the year ended December 31 2019, Cirrus reported fixed assets of £1.3 million and current assets of £2.1 million. Creditors were owed £1.5 million within one year, with £325,180 due within more than one year, leaving the company with total equity of £1.6 million at the time.
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