The information technology company Accenture announced February 13 that it had signed an agreement to acquire the management consultancy Insight Sourcing.

The deal will see Accenture absorb roughly 220 consultants from Insight Sourcing. Accenture also said that it will gain access to Insight Sourcing’s portfolio of more than 40 technology procurement tools.

Accenture said that the acquisition will allow the company to expand its sourcing and procurement services for the consumer goods, retail, technology and industrial industries as well as private equity businesses.

“Accenture and Insight Sourcing will combine expertise across direct, indirect and capital expense cost reduction with complementary data and technology capabilities to drive efficiency and resilience across our clients’ supply chains,” said Rob Fuhrmann, the global lead of sourcing and procurement for Accenture. “With Insight Sourcing, we are taking another important step to position Accenture as a leading provider in sourcing and procurement advisory and execution services for corporate and private equity clients.”

This is the third acquisition made by Accenture in recent months. In November, the company acquired The Shelby Group consultancy followed by the advisory firm Impendi in January.