Global technology and consultancy giant Accenture today said it will acquire Germany-based Prion Group, a move that will help enhance its product lifecycle management (PLM) services.
No financial details were disclosed.
The acquisition will strengthen Accenture's PLM skills and enhance its ability to help clients deliver products to customers faster and more efficiently, Accenture said in a statement.
Prion Group provides PLM strategy and process consultancy, system implementation, data migration, application management and PLM as a managed service.
Founded in 1998 and headquartered in Stuttgart, Prion Group is a privately held company with more than 330 employees.
It has offices in Munich, Nuremberg, Zurich, Oxford, Portland, Detroit, Bangalore, Pune and Singapore.
Combining Prion Group with Accenture's management consulting, technology and outsourcing capabilities will create a market-leading global PLM offering for a range of industries, including industrial equipment, automotive, consumer goods, and aerospace and defense, the statement said.
"The combination of Prion Group's PLM specialist skills and Accenture's industrialised delivery methodologies and global scale will help clients tackle the fragmented system and process landscape in the product development space, which many companies face today," Accenture Senior Managing Director Koen Deryckere said.
Completion of the acquisition is subject to customary closing conditions.