Accenture has announced its intent to acquire SinnerSchrader AG, one of the leading digital agencies in Germany. The acquisition will strengthen and expand the capabilities of Accenture’s digital agency, Accenture Interactive, to provide customer experience services to clients in Germany. The two companies welcome the planned acquisition as a great opportunity for their clients and employees.
Accenture has agreed to purchase a 62% majority of SinnerSchrader shares from co-founder and CEO Matthias Schrader, CFO Thomas Dyckhoff, and other shareholders at EUR 9.00 per share. Accenture also announced its intention to launch a public tender offer to all remaining shareholders at the same price. This 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 announcement.
Additionally, Accenture and SinnerSchrader have signed an agreement outlining the relationship between SinnerSchrader and Accenture Interactive that aims to jointly develop digital transformation solutions through the combination of consulting, design and technology. Under the terms of the agreement, Matthias Schrader will retain his role as CEO of the company and, after a transition period, lead the joint digital agency business of Accenture Interactive in Germany, Austria and Switzerland. The SinnerSchrader leadership team is expected to expand the existing Accenture Interactive leadership team with additional expertise. The supervisory board of SinnerSchrader has approved this agreement.
SinnerSchrader is a full-service digital agency that specializes in developing and implementing digital products, services, and marketing solutions. It has approximately 500 employees in studios in Hamburg, Berlin, Frankfurt, Munich, Prague and Hanover. Its clients include Allianz, Audi, BMW, comdirect bank, ERGO, Telefonica, TUI, Unitymedia and VW.
With this acquisition, Accenture will take another major step in expanding its digital agency, Accenture Interactive, in Germany. The acquisition will strengthen Accenture Interactive’s capabilities in customer experience design as well as development of digital strategies and mobile offerings, and deepen its eCommerce and content marketing offerings.
“The planned acquisition will benefit our clients and employees as well as our shareholders,” said Matthias Schrader, co-founder and CEO of SinnerSchrader. “Linking our interdisciplinary culture spanning consulting, design and technology with the global organization, technology skills, and industry expertise of Accenture and Accenture Interactive will enable us to service our clients more broadly and on a global scale. Our talents will have access to new and exciting projects and career opportunities.”
“Technology and consumer expectations are changing fast, challenging companies every day to create meaningful experiences for their customers,” said Rainer Balensiefer, head of Accenture Interactive Germany, Austria and Switzerland. “This is an area where Matthias Schrader and his team have significant expertise and experience, which we will leverage to jointly drive our clients’ digital businesses.”
“SinnerSchrader’ highly sought-after skills will go a long way in securing our position as one of the leading providers for digital transformation in Germany,” said Frank Riemensperger, country managing director of Accenture Germany. “We are pleased to welcome the SinnerSchrader team and its distinctive digital agency culture.”
The transaction is subject to customary closing conditions and is expected to close in the first half of CY 2017.
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