SinnerSchrader latest firm snapped up by Accenture Interactive

Consulting firm Accenture has agreed to purchase a majority in SinnerSchrader, one of Germany’s leading digital agencies. The deal is set to enrich co-founder Matthias Schrader by more than €103 million.

Accenture has taken a majority stake in SinnerSchrader, one of the leading digital agencies in Germany, agency co-founder Matthias Schrader announced. Accenture purchased 62% of the creative agency’s stock, including all of the shares of financial director Thomas Dyckoff, and a number of other shareholders including co-founder Schrader.

Together with his business partner Oliver Sinner, Schrader founded SinnerSchrader 21 years ago. The move means that Schrader, who as of March 2016 held 23% of the agency’s shares, will receive €103.5 million, or $109.1 million, from the sale.

However, the consulting firm are not content with majority control, and are seeking a full takeover. Shortly after the deal for control was struck, it was reported the group will soon launch a public tender offer to remaining shareholders, at the same price of €9 per share, 31% more than the average price of the past three months, to rest 100% control of the agency from them.

SinnerSchrader and Accenture Interactive said in a press release that together they “will aim to jointly develop digital transformation solutions through the combination of consulting, design and technology.”

The Hamburg-based agency will be absorbed into the consultancy’s digital division Accenture Interactive – which is believed by some to be the world’s largest agency following a period of aggressive expansion. However, WPP, one of the world’s largest advertising firms – which is said to be under threat by the move of numerous consultancies into the sector – disputes this figure vehemently, and has stated that the global press have wildly overestimated the perceived size of consulting in the creative space.