Siemens Advanta buys Spanish consultancy Innovation Strategies

12 July 2022 2 min. read

Siemens Advanta has significantly bolstered its capabilities in Southern Europe with the acquisition of Spanish digital transformation company Innovation Strategies.

The move sees around 100 employees working form offices in Mallorca, Sevilla, Córdoba and Mexico City join Siemens Advanta, the digital transformation consultancy of German industrial giant Siemens.

Founded in 1996 as one of the first inhouse consultancies in Europe (back then as Siemens Management Consulting), Siemens Advanta today advises both Siemens and external clients on all stages of the digitalisation journey – from strategy to operations.

Siemens Advanta buys Spanish consultancy Innovation Strategies

Since its launch in 1997, Innovation Strategies has grown to become one of Spain’s leading digital transformation consultancies with a track record of over 1,500 projects in 20+ countries. The firm specialises in IT strategy, cloud, Industry 4.0, application design and development, and data analytics. Innovation Strategies is a certified partner of AWS, Microsoft and Oracle, among others.

“We are truly excited to be joining the Siemens Advanta family on this next phase of our growth journey. This acquisition expands our capabilities to serve our clients better and provides tremendous opportunities for our employees,” said Miguel Fernandez Diaz, CEO of Innovation Strategies.

Meanwhile, for Siemens Advanta, the move sees the firm establish a foothold in the Iberian Peninsula, which according to Miguel Ángel López, the CEO of Siemens in Spain, “is among the largest markets for digital transformation services in the European Union.”

The acquisitions grows the team of Siemens Advanta to around 600 consultants and data scientists. Meanwhile, the consulting firm can tap into a network of close to 10,000 employees at Siemens that can bring experience in consulting or functional expertise to projects.

Aymeric Sarrazin, CEO of Siemens Advanta said: “We are excited to expand our growing business with the Innovation Strategies team. By combining our ‘go-to-market’ and deep domain know-how with Innovation Strategies’ digital capabilities, we will create value, which is crucial for accelerating the digital transformation agenda for our customers and partners.”

Terms and conditions of the deal have not been disclosed. The transaction closed on 1 July 2022.

In related news, two global consultancies recently also turned to M&A to bolster their Spanish outfit. In May, strategy giant McKinsey & Company acquired S4G Consulting (160 employees) and in March, Accenture acquired Alfa Consulting (50 consultants).