Summary
The number of acquisitions that 24 top service providers made fell sharply from 164 in 2021 to 63 in 2023 but rebounded slightly to 74 in 2024. Only Accenture kept up the pace, accounting for 48% of the deals we tracked in the past two years. Tech consulting and business app implementation acquisitions are dominant in every region, but more interesting pivots are visible in the purchase of industry consulting, capital project management, and training services. Tech execs should be on the lookout for risks when a favorite boutique is snapped up; they should also insist that strategic partners disclose their acquisition strategies.
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