New Mountain Capital, a New York-based investment firm, has merged portfolio companies Bounteous and Accolite into a 5,000-person digital transformation consultancy.
The merger was driven by the recognition of significant cross-selling opportunities, Prasad Chintamaneni, New Mountain managing director, told Business Insider. Bounteous mostly works on design and marketing engagements, while Accolite focuses on cloud infrastructure and data analytics.
“We see tremendous growth potential in the combination of these two companies, both of which bring impressive, blue-chip customer rosters, world-class digital consulting and engineering capabilities, and a deep commitment to innovation,” Chintamaneni said.
New Mountain Capital invested in both firms in 2021.
The combined firm, temporarily branded as Bounteous x Accolite, will provide a comprehensive range of digital services across AI and data, cloud, customer experience and martech, digital commerce, and product engineering. The firm will have approximately 1,200 people in North America, 3,400 in Asia-Pacific, and 400 in Europe.
Bounteous x Accolite will serve over 300 Fortune 1,000 and high-growth clients across a wide range of sectors.
Keith Schwartz, co-founder and CEO of Bounteous, and Leela Kaza, founder and CEO of Accolite, will serve as co-CEOs of the combined firm. The firm’s headquarters will be in Chicago.
“This combination accelerates the realization of the vision Bounteous has been working toward since our founding: to become the world’s preeminent digital innovation partner. Accolite shares our obsession with customer success and has an admirable track record of creating lasting value and impact for their clients,” Schwartz said.
Bounteous was founded in 2003 and is based in Chicago. The company specializes in strategy, experience design, marketing, and technology. It has 2,000 people across offices in North America and India.
“With the digital innovation mastery of Bounteous combined with Accolite’s digital engineering expertise and talent across North America, EMEA, and APAC, we are uniquely positioned to empower our clients to create extraordinary customer experiences that inspire genuine brand appreciation and long-term loyalty,” Kaza said.
Accolite was founded in 2007 and is based in Dallas. The company focuses on digital engineering, cloud, and data and AI services. It has 3,000 people across North America, Europe, and India.