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Technology Holdings advises The Lumery, a leading MarTech consultancy, on its strategic sale to Accenture

Mar 2024
Has been acquired by

Marketing Automation

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Technology Holdings advises The Lumery, a leading MarTech consultancy, on its strategic sale to Accenture
Seller The Lumery
Buyer Accenture
Focus Sector Marketing Automation
Date March 2024

Technology Holdings is pleased to announce that it has acted as the exclusive financial advisor to The Lumery, one of the largest independent marketing and technology consultancy in Australia with full stack technology capabilities, on its strategic sale to Accenture.

quote The shareholders of The Lumery enlisted Technology Holdings as our advisor based on their reputation for understanding our unique space. From the outset, their digital transformation and digital marketing deal expertise, attention to detail, and access to the digital buyer landscape globally were critical. They provided the shareholders with much-needed support, critical guidance and sound advice which led to a successful agreement with our ideal strategic partner, Accenture Song.
Rajan Kumar CEO & Co-Founder, The Lumery

Founded in 2017 and headquartered in Melbourne, The Lumery brings to Accenture Song, complementary MarTech ecosystem relationships to help clients transform through technology for scale and mass customization. The Lumery provides industry and platform consulting services, including marketing advisory and planning, implementation across entire technology stacks, operational excellence and simplification to clients across consumer goods and services, financial services, public sector, retail and resources. Its team of approximately 80 people across its offices in Melbourne, Sydney and Bengaluru, India, will join Accenture’s marketing practice.

With the acquisition of The Lumery, Accenture will strengthen its marketing transformation capabilities and add significant depth to its offerings in Australia, such as personalization, CRM and loyalty, testing and experimentation and automation. The acquisition of The Lumery reflects Accenture’s continued investment to help businesses in Australia respond to rapid changes in MarTech. Global spending on MarTech is expected to soar by 64% to $216 billion in 2027.

Mark Green, Australia and New Zealand lead at Accenture Song, said: “There is great interest in using tech to understand Australian customers more deeply and to streamline, enhance and transform marketing and sales efforts, especially with the rise of generative AI. The Lumery stands out for its distinct ability to help clients navigate the constantly changing and fragmented customer experience with its considered approach that integrates software, data and analytics. Accenture Song and The Lumery share a goal of helping organizations transform through connected marketing and technology investments to drive customer growth.”

Peter Burns, who leads Accenture’s business in Australia and New Zealand, said: “Bringing The Lumery to augment Accenture Song’s tech-powered creativity, data intelligence, and industry expertise will help expand our Australian practice to lead clients further on their path of sustained relevance.”

Rajan Kumar, CEO and Co-founder of The Lumery, asserts that “Building compelling customer experiences isn’t going to be solved by technology alone. It also requires creativity, modern ways of working, ever-evolving customer data and most importantly, great people. The Lumery was founded with a clear ambition to be the leading authority in MarTech – we’ve built a team of skilled professionals and grown successful brands with our mix of marketing and tech expertise. Joining Accenture Song is a monumental step in our journey forward as we scale our expertise globally and, together, help more businesses connect with their customers and drive tangible business outcome.”

Simon Croft, Associate Director, ANZ at Technology Holdings said “We are delighted with the outcome achieved for The Lumery and Accenture and wish Rajan, Simon and Alastair all the very best on the next leg of their journey. This is our 5th transaction in the ANZ region, and the combination of The Lumery and Accenture underscores the increased demand from enterprise customers for a complete suite of marketing and technology solutions, with the MarTech space now gaining increased traction with the changing needs of customers.”

Vivek Subramanyam, Founder and CEO of Technology Holdings added, “We are excited to have closed this key deal with Accenture Song – our 6th Marketing Automation transaction and 40th Digital Transformation transaction. The transaction showcases Technology Holdings’ deep capabilities in the Digital Transformation and Digital Marketing landscape, with our expertise extending to every single segment of the space.”

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