Accenture Boosts IoT Chops with Design Shop Buy
Accenture announced the acquisition of Altitude, a product design and innovation firm based in Boston.
The acquisition will unite Altitude’s innovation, design, and engineering expertise with Accenture’s full range of consulting, technology and digital capabilities to help clients develop Internet of Things business models and capture new revenue streams via connected products and services.
In addition to aligning Altitude with its Connected Product Lifecycle Services practice in North America, Accenture will use the acquisition to launch a Connected Products Studio in Boston.
“The addition of Altitude strengthens Accenture’s position as a premier innovation partner for companies looking to seize the opportunities in the new connected world,' said Brian Doyle, managing director for the Connected Product Innovation practice.
Altitude has created products for a variety of brands, including Anheuser-Busch, DeWalt, ThermoFisher Scientific and Under Armour. Key areas of expertise include consumer insights and product creation. The firm's innovations have included "integrating robots into homes, redefining mobility for aging populations, personalizing consumer experiences, and turning an industrial equipment company into a service provider," according to founder Brian Matt.
Accenture research (see attachment below) finds that only 27% of businesses have an IoT strategy and many also lack the capabilities needed to pivot their business models at speed and scale to harness IoT innovation.
“Disruption introduced by connected products and the IoT is re-writing the old rules of a product-based business model, forcing manufacturers to transform to deliver value-added services and deliver meaningful outcomes for consumers,” Doyle said.