PrimeQ founders say the company will grow its Adelaide footprint after takeover by Accenture

The founders of Adelaide startup PrimeQ say they are committed to boosting the company’s presence in Adelaide following its $31 million takeover by global consulting giant Accenture.

PrimeQ co-founder Andrew McAdams, left, with staff at the company’s head office in Kent Town. photo Calum Robertson

The founders of Adelaide startup PrimeQ say they are committed to boosting the company’s presence in Adelaide following its $31 million takeover by global consulting giant Accenture.

The deal, finalised this week, will see the company’s five founders – Chris Downie, Michael Luyckx, Simon Cohen, Andrew McAdams and Andrew Treloar – continue in their existing roles.

Together, they controlled 45 per cent of PrimeQ’s shares prior to the takeover, alongside more than 200 other investors including institutional groups, several wealthy South Australian families and, according to Mr McAdams, about 45 per cent of its employees.

“When it ticks all the boxes – employees, customers and shareholders – you know it’s the right thing to do,” he said.

“We have a shareholder group that’s delighted, customers have been pleased and that’s great because we work with iconic SA companies like Coopers, Stratco, Australian Vintage and Accolade Wines.”

In June last year, the former Labor State Government provided a $500,000 grant to PrimeQ to go towards the launch of a “cloud campus” at its Kent Town base, including a 24-hour technical support and innovation centre and a graduate program to drive research and development.

Mr McAdams said his team was committed to delivering on the promises made as part of that investment.

“We certainly had some funding from Investment Attraction SA, built around the graduate hub, and nothing changes there,” he said.

“We will continue that investment and creation of jobs for SA. We were very pleased with that investment because it made a difference for us in being able to further grow the business.”

Accenture’s Oracle lead for Australia and New Zealand, James Madigan, said PrimeQ’s experience in the sale, installation and service of Oracle Cloud software to corporate clients complemented the company’s credentials “across the Oracle Cloud portfolio”.

The PrimeQ brand will be retained for around six months before being phased out by Accenture.

“We started discussions with Andrew and the team in May and, after only two or three discussions, it was clear to both of us that there were good opportunities for both of us,” Mr Madigan said.

“We see a lot of opportunities to leverage our operations in Adelaide.

“A big component is managed services provided to many clients.

“There’s a big opportunity to continue and grow that here with interest from Australian clients to be supported by onshore providers.”

PrimeQ employs close to 70 staff in Adelaide, with more than 160 employees across Australia and New Zealand.

Mr McAdams said the company’s success showed “you don’t have to be on the eastern seaboard to grow a business like this”.

“I’ve been here (Adelaide) for 19 years and I think SA is an easy place to do business,” he said.

“There’s a government that’s really supportive - there are growth opportunities for smaller startups to build themselves from SA.”