Clearsight Advisors is pleased to announce another successful transaction in its market-leading Professional Services Practice. Clearsight served as the exclusive strategic and financial advisor to IBB Consulting in its announced acquisition by Accenture (NYSE: ACN). This transaction reinforces Clearsight’s preeminent position as the investment banking leader in advising high-end strategy and digital consulting firms.
Accenture, a leading global professional services company providing a range of strategy, consulting, digital, technology & operations services and solutions has signed an agreement to acquire IBB Consulting, a premier consulting firm that helps leading broadband and mobile operators, media companies and technology providers identify emerging industry shifts, adapt to market changes and capitalize on new business and technology opportunities. IBB Consulting will strengthen the ability of Accenture Strategy to advise clients in the Communications, Media & Technology (CMT) industries by designing business and technology strategies to create future value, drive new growth and transform operations as they seek to become fully digital businesses.
Founded in 2001 with headquarters in Philadelphia, IBB Consulting serves as convergence specialists to leading broadband, media, mobile and technology companies. IBB Consulting’s deep industry focus—that spans network infrastructure, software, content and devices—enables global clients to pioneer new products and services, develop innovative business models and successfully execute business operations.
“We carefully and deliberately sought out the right investment banking advisor for IBB,” stated Dr. Imran Shah, Co-Founder and Managing Partner of IBB Consulting. “Clearsight came highly recommended and they did not disappoint. Their depth of knowledge about the consulting industry, the different buyers and deal structures led us to the best possible outcome for all the IBB stakeholders.”
“Our firm was thrilled to assist Imran, Afzaal and the IBB team on this critically important transaction. New digital technologies have disrupted the media and communications industry and IBB is truly on the frontline of helping its clients navigate through this complex and rapidly evolving environment. This deal with Accenture is very strategic and a win-win for both firms,” said Clearsight Co-Founder, CEO and Managing Director, Joel Kallett.
Following completion of the acquisition, approximately 160 of IBB Consulting’s highly skilled professionals are expected to join the Accenture Strategy CMT industry practice. The majority of IBB Consulting’s workforce is based in North America, with the balance based in Australia. The acquisition will expand Accenture’s capabilities in delivering strategy services for CMT clients with pioneering strategic thinking around key industry issues such as networks, digital video and IPTV, digital transformation, next generation mobility, internet of things (IoT), M&A, cloud, advanced advertising, data analytics and insights, marketing optimization, and international growth. Completion of the acquisition is subject to customary closing conditions. Terms of the deal were not disclosed.