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Mergers and Acquistions News

Categories: BPO

October 7th 2010, 17:18PM

Technology outsourcing and consulting firm Accenture Plc said it will buy the sourcing services and business process outsourcing (BPO) assets of Ariba Inc, a commerce software solutions provider, for $51 million (£31.9 million).

Upon successful completion of the transaction around 160 employees of Ariba will merge into Accenture. Some $12 million of the cash purchase price is subject to escrow (held by a third-party), and will be released when performance of specific assets is met.

"Ariba is a leader in spend management and this acquisition will extend and strengthen Accenture’s existing sourcing and procurement services by adding deeper category expertise, highly scalable global sourcing service delivery operations and proprietary sourcing databases, benchmarks and technologies," said Mike Salvino, group chief executive of BPO at Accenture.

Earlier this month, Accenture announced a new agreement with the UK government to continue its work on driving efficiencies across the administration.

The acquisition, which is subject to customary closing conditions, is expected to close within Ariba's fiscal quarter ended December.
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