Accenture's acquisitions of PCO is its 2nd major move in the PLM business area this year (Photo: PCO)

Accenture hopes to further boost its expertise in the growing product lifecycle management (PLM) sector through the planned acquisition of Montreal-based PCO Innovation.

The global business consulting group said the addition of PCO will increase its ability to help clients organize, develop, manage and introduce new products and services.

PCO specializes in PLM strategy and process consultancy, application architecture, system implementation, data migration and application management. The company has expertise with all major PLM platforms.

Sergio Colella, managing director of Accenture, said the acquisition is in response to the increasing complexity that globally operating companies face. "There is a greater demand to integrate product and service development processes across disciplines from innovation to manufacturing, supply chain and customer service," he said in a press release.

Once the necessary approvals have been received, the acquisition will be Accenture's second major move in the PLM service area this year. Earlier in 2013, it bought Prion Group, which specializes in the delivery of PLM services. Accenture said the addition of the two companies will help it target in particular the automotive, aerospace and defense, consumer goods, electronics and industrial equipment industries.

Etienne Borgeat, PCO Innovation CEO, said the sale of his company to Accenture will help create "a market leader for end-to-end PLM services."

Accenture said well functioning PLM systems can increase the speed of product launches by as much as 55 pc, while operational and product development costs can be reduced 10-to-35 pc.

PCO employs more than 600 consultants and serves 150 clients in 30 countries.