Accenture, a multinational professional services firm, has acquired FutureMove Automotive, a Chinese connected vehicles software provider, to offer more digital services to Chinese carmakers.
The deal will strengthen Accenture‘s Industry X.0 framework and create new travel services for Chinese automakers, the Dublin-headquartered firm said in a statement yesterday, without disclosing the price of the deal.
Founded in 2015, FutureMove has provided BMW, Ford Motor, Volvo Cars, and Audi with its solutions, working toward creating Internet of Vehicles platforms.
The Beijing-based firm’s Chief Executive John Wang will join Accenture as a senior executive in charge of Industry X.0 division which helps companies integrate digital innovation into their business.
One seller has confirmed some financial details. Vie Science & Technology has transferred a 13.8 percent stake, priced at USD18 million, in the parent of FutureMove, as well as a similarly sized stake worth CNY1.4 million (USD193,052) in the target company to Accenture, the Zhuji-based seller said in a statement on Oct. 7. The deal values the parent at USD130 million and FutureMove at CNY10 million.
Source: www.yicaiglobal.com
