Founded in 2002, Advoco has been repeatedly named Infor EAM Partner of the Year. The solutions and services Advoco provides are designed to help clients enhance the reliability and extend the overall lifecycle of their critical assets. It specializes in configuring and integrating Infor EAM software with companies’ existing enterprise and operational systems, and EAM training programs. Advoco’s mission is to form trusted advisor partnerships with clients across industries. Terms of the acquisition were not disclosed. The acquisition expands Accenture’s capabilities to help clients in the consumer goods & services, industrial, life sciences, transit and other industries make their operations and supply chains safer, more sustainable, productive and cost-efficient. "Adding an enterprise asset management system to our portfolio puts us in a unique position to drive further digital transformation across our customer base," Rollen added.Accenture Acquires Advoco, Scaling Capabilities for Intelligent Asset Management SolutionsĪccenture has acquired Advoco, one of the largest systems integrators for Infor EAM, a leading software-as-a-service suite for enterprise asset management (EAM). Hexagon said it expected the acquisition would generate it additional sales worth $100 million by 2026.
Infor EAM's expected revenue for 2021 is $184 million, Hexagon said, adding that the business had been growing at a compound rate of 35% in the last three years. The transaction, which is subject to regulatory approval, would leave Koch owning a stake of almost 5% in Hexagon. The sale comprises $800 million in cash and 132 million shares, worth about $1.95 billion, in the form of shares paid to Koch. Shares in the company were up by just over 2% at 0817 GMT. Hexagon has transformed itself from a conglomerate to an industrial technology company through a series of acquisitions over the last decade. Infor's EAM is software used by industrial companies to track assets, digitalise maintenance operations and improve digital operations. "Infor EAM is continuously ranked by analysts as a market leader among best-of-breed EAM solutions and is considered by thousands of customers as one of the industry's most compelling solutions," Hexagon CEO Ola Rollen said in a statement. The deal also creates ties between Hexagon and Koch Industries - which owns Infor - through a memorandum of understanding, which will see expanded use of EAM in Koch businesses and cross-selling opportunities between customers. STOCKHOLM, July 6 (Reuters) - Swedish industrial technology group Hexagon AB (HEXAb.ST) said on Tuesday it had acquired cloud technology company Infor's enterprise asset management (EAM) division in a cash and equity deal worth $2.7 billion.
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