Founder Sells Digital Agency to Accenture
Accenture has taken a majority stake in SinnerSchrader, one of the leading digital agencies in Germany, agency founder Matthias Schrader announced on Monday.
The corporate consultancy has agreed to purchase 62 percent of shares in SinnerSchrader, including all the shares held by Mr. Schrader, as well as those of financial director Thomas Dyckhoff and other shareholders.
The move means that Mr. Schrader, who as of March 2016 held 23 percent of the agency’s shares, will get €103.5 million, or $109.1 million, from the sale.
Accenture is seeking a full takeover, and will soon launch a public tender offer to all remaining shareholders at the same price of €9 per share, 31 percent more than the average price of the past three months.
The agency will be absorbed into the consultancy’s digital division, Accenture Interactive.
Together with his business partner Oliver Sinner, Mr. Schrader founded Sinner-Schrader 21 years ago. The digital agency currently employs 500 people. It designs and develops digital products and services for companies such as Allianz, Audi, Ergo and Volkswagen. The agency ended the past fiscal year with record sales of €51 million and a profit of €4.5 million.
Picture source: SinnerSchrader.