M+E Connections

Accenture Completes Purchase of Majority Stake in SinnerSchrader

Accenture has completed its purchase of a 62% majority stake in German digital agency SinnerSchrader after receiving clearance from antitrust authorities, the company said April 12.

Accenture had announced its plans to buy the stake in SinnerSchrader Feb. 20 as part of a move designed to drive the expansion of its digital agency, Accenture Interactive, in Germany, Austria and Switzerland.

The acquisition of SinnerSchrader will allow Accenture Interactive to “deliver end-to-end customer experience services to clients,” Accenture said in a news release.

“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,” Brian Whipple, head of Accenture Interactive, said in the April 12 announcement. He added: “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,” SinnerSchrader CEO Matthias Schrader said. After a transition period, he will lead Accenture Interactive in Germany, Austria and Switzerland, Accenture said.

Schrader added: “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.”

“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,” Rainer Balensiefer, current head of Accenture Interactive for Germany, Austria and Switzerland, said in the news release.

Balensiefer “will continue to lead Accenture Interactive in Germany, Austria and Switzerland during a 1.5-2-year transition period,” Accenture spokesman Jens Derksen told the Media & Entertainment Services Alliance (MESA). Balensiefer will also “be responsible for coordinating the collaboration and integration” with SinnerSchrader, Derksen said, adding that, after the transition period, Balensiefer will “take on a prominent leadership role within Accenture’s digital business” in Germany, Austria and Switzerland.

With the transaction, Accenture said it’s “taking another important step towards the combination” of its agency business with SinnerSchrader, following the formal launch of its public tender offer March 27 for the acquisition of the remaining SinnerSchrader shares.

Accenture is offering 9.00 euros per share, it noted, saying that “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 Feb. 20 announcement.