Accenture (NYSE: ACN) has completed the purchase of a 62% majority shareholding in SinnerSchrader, one of the leading digital agencies in Germany. The completion follows clearance from the antitrust authorities.
Accenture previously announced its plans on February 20, 2017 to drive the expansion of its digital agency, Accenture Interactive, in Germany, Austria, and Switzerland with the acquisition of SinnerSchrader to deliver end-to-end customer experience services to clients.
“We are combining the scale and reach of the world’s largest digital agency with the creativity, digital expertise and keen market knowledge of a leading digital agency in Germany,” said Brian Whipple, head of Accenture Interactive. “Together, we’re bringing our unique model to clients in Germany: part creative agency, part business consultancy, and part technology powerhouse – all laser focused on creating the best customer experiences on the planet.”
“Our work and our clients will benefit greatly from this unique combination,” said Matthias Schrader, CEO of SinnerSchrader, who, after a transition period, will lead Accenture Interactive in Germany, Austria and Switzerland. “Linking SinnerSchrader’s proven digital expertise to Accenture Interactive’s connected offering and truly global network will unlock next-generation customer experience and digital transformation services for companies and brands in Germany. Becoming part of Accenture Interactive also means exciting new opportunities for our talent.”
“Together, we are building Accenture Interactive as the leading agency for a holistic customer experience offering in Germany that helps clients digitally transform in an experience-led economy,” said Rainer Balensiefer, head of Accenture Interactive for Germany, Austria and Switzerland. “We are committed to preserving SinnerSchrader’s interdisciplinary culture and studio network which will be crucial to drive the expansion of Accenture Interactive across Germany.”
With the acquisition of the majority shareholding, Accenture is taking another important step towards the combination of its agency business with SinnerSchrader, following the formal launch of its public tender offer for the acquisition of the remaining SinnerSchrader AG shares on March 27, 2017.
Accenture is offering 9.00 euros per share which represents an attractive premium of 58% over the 12-month volume-weighted average share price and 31% over the 3-month volume-weighted average share price before the announcement on February 20, 2017. The acceptance period of the tender offer ends on May 8, 2017. SinnerScharder AG’s management and supervisory board recommended to accept the offer of Accenture in their statement pursuant to §27 WPÜG on April 6, 2017.