Logic deal to boost Accenture Technology with 800 professionals
Accenture has announced it is set to acquire global retail technology firm Logic to enhance its capabilities in the segment. The deal means Accenture stands to add hundreds of experts to its international retail technology transformation team.
Bill Szlaius, co-founder and CEO of LOGIC said, “For more than 25 years, our focus at Logic has been helping our retail clients move faster, innovate smarter and thrive in the face of retail disruption. Joining Accenture will enable us to expand our reach and accelerate our mission, providing even greater value to our clients and unlocking new growth opportunities for our talented team.”
Founded in 1997, Logic is an international professional services firm, with headquarters in Minneapolis, Minnesota. Beyond the US, Logic has offices in 10 other countries – including one in London, in the UK – and serves over 150 retail clients worldwide with its 800 skilled specialists. Focusing on retail technical strategies, the company has supported household names such as Louis Vuitton, Makro, Oxxo, Ralph Lauren and Dunne’s Stores to innovate their organisations.
Terms of the transaction were not discloses, and are subject to customary closing conditions. However, upon completion of the agreed acquisition, those 800 staff will bring their retail-focused technical strategies knowhow to Accenture Technology. They will then help Accenture to support retail clients with boosting customer loyalty, revenue and agility through the use of technology.
Logic will expand Accenture’s retail capabilities with the addition of essential skills in core technologies and platforms, as well as artificial intelligence (AI) and generative AI, to drive innovation for clients. This strategic move underscores Accenture’s commitment to helping retailers transform their organizations with technology so that they can better navigate the evolving retail landscape with confidence.
At present the retail sector is in the grips of a downward spiral – particularly in clothes and fashion, which has become the UK’s fastest-growing segment for financial distress. With the hype around AI, companies in retail are increasingly looking to transform their operations using the technology and cloud capabilities. To that end, a statement from Accenture noted that Logic’s digital, data and cloud capabilities, coupled with its deep industry experience, could help complement Accenture Technology’s capabilities and further expand the firm’s ability to “deliver impactful results to its clients”.
Jill Standish global lead of Accenture’s retail industry practice, added, “Business disruption is intensifying and requires retailers to embrace a strategy of continuous reinvention to deliver value across every part of the business with digital technology at the core. The addition of Logic’s expertise and industry-specific skills will further enhance our ability to deliver comprehensive retail solutions and drive transformative outcomes for our clients to thrive in this dynamic marketplace.”