In a move that highlights the growing importance of marketing technology, professional services firm Accenture has acquired Melbourne-based martech consultancy The Lumery.
This acquisition signifies an exciting development for both companies, particularly within its Accenture Song division, the company's tech-powered creative arm.
Accenture gains a strong foothold in the Australian martech market through this deal, while The Lumery benefits from the global reach and resources of a major player like Accenture.
“The Lumery stands out for its distinct ability to help clients navigate the constantly changing and fragmented customer experience with its considered approach that integrates software, data and analytics,” Mark Green, Australia and New Zealand lead at Accenture Song, said in a press release.
A Strategic Partnership for Martech Growth
Established in 2017, The Lumery brings a team of about 80 specialists across Melbourne, Sydney, and Bengaluru in India to the table.
Their expertise in areas like personalization, CRM and loyalty, and marketing automation aligns perfectly with Accenture Song's objectives.
“There is great interest in using tech to understand Australian customers more deeply and to streamline, enhance and transform marketing and sales efforts, especially with the rise of generative AI,” Green stated.
This expansion goal is particularly relevant considering the rapid growth of the martech industry, where global spending on martech is expected to skyrocket by 64% to $216 billion by 2027.
By joining forces, Accenture and The Lumery are well-positioned to capitalize on this growth and empower businesses to deliver seamless customer experience, offering clients a comprehensive suite of services, from strategy and planning to implementation and ongoing optimization.
Accenture's Road to Global Expansion
In June 2023, Accenture announced that it will invest $3 billion in its data and AI transformation, after which it has bought several companies to accelerate its expansion.
Before 2023 ended, Accenture acquired a slew of companies, one of which was Sydney-based customer insights and advisory Fiftyfive5, aiming to boost Accenture Song’s customer intelligence capabilities.
Other acquisitions include global healthcare marketing agency ConcentricLife, Indonesia-based intelligent digital marketing platform Jixie, and Bangkok-based creative and digital experience agency Rabbit’s Tale.
