M&A: Accenture Acquires Sustainability Consultancy for Energy, Water and Telecom Customers

Accenture has acquired IQT Group, a consultancy that offers sustainability and net-zero expertise to electricity, water and telecommunications infrastructure customers. Financial terms of the deal were not disclosed.

This is M&A deal number 267 that Sustainable Tech Partner has covered so far in 2024. Related: See all M&A deals involving sustainability, climate tech and green IT services listed here.

The acquisition reinforces Accenture's hybrid energy strategy. On one hand, Accenture offers sustainable IT services that assist customers with carbon reduction and net-zero strategies. On the other hand, Accenture also helps customers in legacy energy markets -- including the Oil and Gas sector, for instance.

Energy Efficiency Consultancy Acquired: Business Details

IQT Group, founded in 1995, is based in Rovigo Italy -- roughly 50 miles southwest of Venice. The company, backed by roughly 450 employees, provides engineering managed services for large infrastructure projects. IQT designs and supervises net-zero infrastructure projects for electricity generation and transmission. The firm also supports water projects, and extends managed network services to telecom operators.

IQT Group’s recent projects have supported Italy’s clean energy transition under the EU’s National Recovery and Resilience Plan (PNRR), which aims to modernize Italy’s infrastructure and enhance energy efficiency for a net-zero future.

IQT Group's team will tuck into Accenture’s infrastructure and capital projects practice within Industry X in Italy, the buyer said.

Accenture, based in Dublin, Ireland, has roughly 750,000 employees worldwide. The company's focus spans IT consulting, managed IT services, sustainability services, and dozens of additional capabilities.

Accenture Acquires Italy Consulting Company: Executive Perspectives

In a prepared statement about the deal, Teodoro Lio, CEO of Accenture Italy and market unit lead of Italy, Central Europe and Greece, said: “The proposed acquisition of IQT Group confirms our intention to further strengthen our position in Italy by enhancing our engineering expertise and the services related to the implementation of strategic net-zero infrastructure projects. Our teams aim to support public and private companies in the utilities, energy and telecommunications sectors with digital tools to make their projects more efficient and productive. Ultimately, we will help them build a lower-carbon energy system, which will not only reduce the carbon footprint of utilities but also of the industrial value chain it powers.”

Added IQT Group CEO Andrea Cavecchia: “Our expertise in engineering services for electricity, water and telecommunications infrastructure and industrial and commercial sites combined with Accenture’s global reach and digital capabilities, will allow us to expand our services and offer even greater value to our clients. Together we will pursue a sustainable future, built on smart strategic infrastructure to enhance the quality and safety of people's lives.”

Accenture M&A Activity: Sustainability, Carbon Reduction and Net-Zero Focus

Accenture has been active in the M&A market for sustainability, engineering and energy transition consultancies.

Earlier acquisitions include Boslan of Bilbao, Spain; Anser Advisory and Insight Sourcing the United States; Comtech Group and True North Solutions in Canada; and Partners in Performance of Australia.

Accenture is expected to announce financial results for Q1 of fiscal 2025 on December 19, 2024. Stay tuned for updates.