Prion is a specialist for Siemens' Teamcenter PLM software (Photo: Prion)

Accenture plans to buy Prion Group in a bid to grow its consulting business in the product lifecycle management (PLM) area.

The US-based consultant said the planned acquisition of Prion, a privately held German PLM specialist, will expand its end-to-end PLM offering.

"The combination of Prion Group’s PLM specialist skills and Accenture’s industrialized delivery methodologies and global scale will help clients tackle the fragmented system and process landscape in the product development space, which many companies face today.” said Koen Deryckere, senior managing director with Accenture.

He added in a press statement that manufacturing companies spend as much as 25 pc of revenues on innovation and product development. "PLM can help them avoid investments in products that are either late to market or don’t fully address customer requirements," he said.

Prion, which has particular expertise with Siemens PLM software, has clients across many industries, including automotive, aerospace and defense, transportation and engineering and consumer electronics. Joseph Unger, Prion managing partner, said the two companies together "will help tackle key pain points of PLM projects and support clients as they seek to reduce the cost of PLM activities while increasing the traceability of products and data transparency.”