Accenture plc (NYSE: ACN) is buying Procurian Inc. from ICG Group Inc. (Nasdaq: ICGE) for $375 million.
Procurian, headquartered in King of Prussia, Pa., provides procurement services that businesses use to change their cost structures.
New York -based Accenture, led by CEO Pierre Nanterme (pictured), provides consulting, technology and outsourcing services.
The company has made many acquisitions this year. Earlier in October, it closed a deal for Prion Group, a consulting and systems-integration company that specializes in Siemens Product Lifecycle Management software. Before that, in September, Accenture picked up ASM Research in a move that allows the company to expand its offerings to the U.S. Department of Defense, and bought a majority stake in Brazilian company Vivere Brasil Servicos e Solucoes SA, a lending mortgage-processing technology company. In July, Accenture bought another mortgage company - Mortgage Cadence, a loan origination software company. In September 2012, Accenture closed a deal for Octagon Research Solutions, which provides clinical and regulatory information-management services to the pharmaceutical industry.
ICG, which develops cloud-based software, will focus on cloud computing once the sale closes.
Evercore acted as ICG’s financial adviser, while Dechert LLP provided legal advice.