Deloitte Corporate Finance LLC Advises Pillar Technology Group LLC in its Sale to Accenture Plc
NEW YORK, Oct. 26, 2018 — Deloitte Corporate Finance LLC (Deloitte) acted as exclusive financial advisor to Ohio-based Pillar Technology Group LLC (Pillar), a leading provider of custom smart connected software solutions inclusive of smart city initiatives, in its sale to Accenture Plc, a worldwide consulting and technology services firm. The sale closed Aug. 20, 2018.
Deloitte assisted in all aspects of the transaction including the due diligence process and negotiation of the transaction.
“Deloitte advised Pillar’s shareholders in their selection of a strategic acquirer that would be able to realize significant financial and operational synergies while also preserving the core values of our business,” said Bob Myers, CEO of Pillar. “Deloitte’s advice, deep experience with privately-owned businesses and knowledge of the software and technology-enabled services industry was invaluable at every stage of the transaction.”
Myers continued, “Our ambition is to provide the best possible software — embedded or connected — at lightning speed. Joining Accenture‘s Industry X.0 will allow us to bring this focus on Speed2Value to even more clients, helping them reach new heights in the U.S. and globally.”
Founded in 1996, Pillar is a leading provider of custom software solutions to Fortune 500 companies across the United States. Pillar has differentiated itself from competitors, both domestic and abroad, by establishing an innovative network of technology hubs, the Forge Network. While providing a hub for software craftsmanship, design thinking and marketing, it also serves as the main driver for client acquisition and employee retention. In addition to its Forge Network, Pillar has continued to gain market share by utilizing agile software development practices and solving complex business problems. Recently Pillar has diverted a portion of its developers to focus on in-house software product development, which has already yielded proprietary autonomous vehicle and automotive technology software.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. Deloitte Corporate Finance, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. For more information, visit www.investmentbanking.deloitte.com.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.