Accenture acquires design and innovation firm, INSITUM
Accenture has entered into an agreement to acquire INSITUM, a service design and strategic research firm focused on innovation through a human-centered approach. The acquisition will strengthen Accenture Interactive’s position as a leading Experience Agency in the region by expanding the world-class services of its design and innovation unit, Fjord, in Latin America and beyond.
The combination of Fjord and INSITUM will create leading design and innovation capabilities to bolster Accenture Interactive’s ability to design, build and run experiences that transform businesses and improve people’s lives. The move will expand Accenture Interactive’s presence in the rapidly growing Latin American market, especially in Mexico, where INSITUM is headquartered. It will give Fjord a footprint in Argentina, Colombia, Mexico and Peru, while strengthening its existing operations in Brazil by adding strong talent and forward-thinking capabilities to accelerate the value it drives for clients.
Baiju Shah, chief strategy officer, Accenture Interactive and global co-lead, Fjord, says, “Today’s problems can no longer be solved with yesterday’s solutions. To tackle these challenges, clients must be agile and focus on blending a human-centered design approach with an analytics-led strategy to keep ahead of the unprecedented pace of change and ambiguity we live in. By adding the INSITUM team to the family, we will continue to grow our mission in Latin America by putting design at the heart of innovation.”
For 16 years, INSITUM has been solving key innovation challenges for multinational organizations by combining design thinking methods with behavioral science, ethnographic research and business strategy. As a leading global strategic innovation consultancy, INSITUM has an extensive track record helping large organizations implement user-centered innovation capabilities, envision new products and services, design more relevant experiences and understand human behavior and trends affecting organizations.
INSITUM was founded in 2003 and has more than 200 designers, researchers and strategists across Latin America, Europe and U.S. with headquarters in Mexico City and additional studios in Barcelona, Bogota, Buenos Aires, Chicago, Lima and São Paulo. Its multidisciplinary teams include thought leaders in research, strategy and design who create positive impact for people and organizations, including Bancolombia, BBVA, CEMEX, Grupo Bimbo, Roche and Uber. INSITUM also maintains a network of trusted partners in other parts of the world, giving it the ability to service clients in Africa, Asia-Pacific and Middle East.
Luis Arnal, partner and CEO of INSITUM, says, “We are convinced that design is a key ingredient of innovation and a powerful tool to make the world a better place — truly successful companies know how to incorporate design thinking in everything they do. Being part of Accenture Interactive will allow us to integrate our strategic innovation expertise with new technologies and capabilities in order to amplify the value we deliver to our clients.”
The agreement with INSITUM is a part of a series of actions that Accenture Interactive has taken to strengthen its commitment to Latin America, including the acquisitions of Brazil-based marketing agencies AD.Dialeto and New Content. Other global acquisitions have added to Accenture Interactive’s footprint in the region, such as the recent addition of Spanish advertising agency, Shackleton, which brought a presence in Chile. In addition, organic growth has been driven by increased demand from pan-regional clients in Latin America who require local flavor and regional scale when it comes to communications and creativity.
Today’s news follows other strategic moves for Fjord, including the addition of industrial design capabilities that strengthened its ability to bring to life products and services for the connected world. Under Accenture Interactive, Fjord’s footprint has quadrupled, with 28 design studios globally, making it one of the preeminent design firms in the world.
Completion of the INSITUM acquisition is subject to customary closing conditions, including antitrust clearance. Financial terms of the agreement have not been disclosed.