Accenture buys Swedish IT consulting firm Cygni

Global information technology (IT) and consulting major Accenture on Monday said it has entered into an agreement to acquire Stockholm based cloud native full-stack development firm Cygni for an undisclosed sum.

This is Accenture’s seventh acquisition for the month, and eleventh for 2021.

Its previous buys include talent consultancy services company Cirrus; industrial robotics and automation solution provider Pollux; and supply chain and logistics firm GRA.  

Cygni, founded in 2006 by Erika Sandström, provides IT consulting and implementation services for serverless and cloud deployments. The company has offices across Sweden in Gothenburg, Linkoping, Malmoe, Lulea and Ostersund, along with an office in Amsterdam, Netherlands, according to a statement.  

“Having Cygni’s talented team join Accenture Cloud First strengthens our ability to help clients use the cloud and technology innovation to act faster, operate sustainably,” Karthik Narain, global lead of Accenture Cloud First said.  

Accenture said that the Cygni acquisition will strengthen Accenture Cloud First, which is the company’s newly formed cloud services group with over 70,000 employees. The company also plans to invest close to $3 billion over the course of three years into the cloud services wing.  

Cygni, which has close to 190 developers working in IT consultation and implementation services, will move to the cloud services unit of Accenture.

“By joining Accenture, our people will get the opportunity to continue to grow even more as an integral part of Accenture Cloud First,” Jon Persson, CEO and founder at Cygni said.

Accenture also recently announced that it has reached pre-pandemic growth levels.  

The company reported $12.1 billion in revenues for the second quarter of the 2021 financial year ended February 28, 2021. This was 8% higher than $11.14 billion reported in the same period last year.  
The company also raised its outlook for the fiscal year 2021 from 4%-6% previously to 6.5% -8.5%.