Accenture set to acquire retail tech firm Logic to bolster customer loyalty and revenue

Accenture (NYSE: ACN) has announced a significant expansion in its retail technology capabilities by agreeing to acquire Logic, a renowned retail technology services firm. This acquisition is poised to enhance Accenture’s offerings in driving customer loyalty, increasing revenue, and boosting agility through advanced technology solutions across the retail sector.

Logic, founded in 1997 and based in Minneapolis, Minnesota, boasts a robust presence in the retail technology domain, with offices in 11 countries and a client base of more than 150 retailers worldwide. The firm is recognized for its profound expertise in merchandising, digital platforms, analytics, and cloud services, making it a valuable addition to Accenture’s extensive technology portfolio.

Jill Standish, global lead of Accenture’s Retail industry practice, highlighted the strategic importance of the acquisition: “Business disruption is intensifying, necessitating retailers to continually reinvent themselves with digital technology at the core. Integrating Logic’s specialized skills and deep industry insights will significantly enhance our ability to offer comprehensive solutions that drive transformative outcomes for our retail clients globally.”

Bill Szlaius, Co-Founder and CEO of Logic, expressed enthusiasm about the merger, stating, “For over two decades, Logic has been at the forefront of helping retailers adapt and thrive amidst industry disruption. Joining forces with Accenture will not only expand our capabilities but also accelerate our mission, delivering even greater value to our clients and creating new growth opportunities for our team.”

The acquisition will notably augment Accenture’s expertise in core technologies, including artificial intelligence (AI) and generative AI, enabling the firm to foster innovation and provide cutting-edge solutions to retail clients. Karthik Narain, group chief executive – Technology at Accenture, underscored the strategic move, “With every business strategy increasingly tied to technology, it’s crucial for companies to transform their operations using cloud, data, and AI. Logic’s capabilities in digital, data, and cloud, combined with its deep retail industry experience, will enhance our ability to deliver impactful results to our clients.”

The transaction, which is still subject to customary closing conditions and regulatory approvals, represents a significant step in Accenture’s commitment to helping retailers navigate the evolving market landscape with confidence and technological adeptness.