Accenture has acquired Bow & Arrow, a UK-based digital ventures consultancy that helps clients identify and create new digital products and services that fulfil unmet customer needs. Financial terms were not disclosed.
The acquisition strengthens Accenture Interactive’s ability to reinvent experiences for communications, media and technology companies, to help them seize new market and customer opportunities and diversify their revenue streams.
Bow & Arrow’s expertise is in the emerging category of “white space” identification — finding opportunities for businesses to grow in new market sectors and to offer new experiences. Leveraging its proprietary Crossbow methodology, Bow & Arrow transforms the launch rate for new digital products, services and ventures for clients.
Founded in 2009, Bow & Arrow has built its success on its ability to blend analytics with creativity and vision with execution. The consultancy works with clients across a variety of industries, with a particular focus on communications, media and technology.
“Research has shown communications and media to be the most disrupted industry in the U.K., so these companies are looking for growth opportunities outside of their core businesses,” said Joy Bhattacharya, head of Accenture Interactive in the UK and Ireland. “It’s hard to identify where that white space is, and even once you’ve found it, you need help to change course and grow in the right direction. The acquisition strengthens our capabilities in guiding clients toward these opportunities for experience reinvention — from discovery to delivery — helping clients find and unlock avenues for business growth.”
Bow & Arrow sits at the centre of the disruption and innovation agenda for clients. They work in cross-functional ‘Start Up’ teams, which combine strategists with commercial, research, creative thinking and analytical skills. They also incorporate creatives who have commercial, strategic, customer and product understanding to design transformational experiences. These teams work together from the beginning to the end of the Crossbow process, keeping momentum by removing handovers to different disciplines, and creating more than the sum of their parts through unique collaboration and mutual understanding.
Lisa De Bonis, communications, media & technology lead at Accenture Interactive, said: “Bow & Arrow’s client-centric approach and novel operating model fit perfectly with how we approach all of our work. Real innovation is not about building something amazing in isolation, but about value — which comes when you can scale something new for your whole business or all of your customers. Bow & Arrow is built on strong people, with specialist skills, and a collaborative approach that makes it an ideal addition to Accenture Interactive.”
Bow & Arrow creative partner and co-founder, Natasha Chetiyawardana, said: "Joining forces with Accenture Interactive is an amazing opportunity to broaden the work we can do with clients. Our experience of white space innovation complements their extensive expertise in the platforms, creativity, consulting and venturing. Now we can help identify and implement new opportunities for clients on a global scale.”
Bow & Arrow CEO and founder, Ben Slater, added: "We work with clients when there is an urgent need for fast growth outside of their core business, but they don’t know what to do next. Working with Accenture Interactive dramatically increases our capacity to provide game-changing implementation too for these clients.”