SinnerSchrader
| Company type | Stock corporation (Aktiengesellschaft) |
|---|---|
| Industry | Digital agency, Information technology, Marketing, Public relations |
| Founded | 1996 |
| Founder | Oliver Sinner, Matthias Schrader |
| Defunct | 2022 |
| Fate | Merged into Accenture Song |
| Successor | Accenture Song |
| Headquarters | Hamburg , Germany |
Area served | Germany, Czech Republic (Prague), other locations including Berlin, Frankfurt, Munich |
Key people | Matthias Schrader (until 2022) |
| Products | Online retail platforms, digital transformation consulting |
| Owner | Accenture (from 2017) |
| Parent | Accenture (from 2017) |
SinnerSchrader was a digital agency based in Hamburg, Germany. Established in 1996 by Oliver Sinner and Matthias Schrader, the firm went public in 1999. From 2017 onward, SinnerSchrader operated under the umbrella of Accenture and was fully integrated into Accenture Song (previously known as Accenture Interactive) by 2022.
Foundation and initial phase
The agency was created by Oliver Sinner and Matthias Schrader in Hamburg, originally situated in the former Johannes Krause tanning machinery factory located in the Ottensen neighborhood. Over time, the company expanded its presence with offices opening in Berlin, Frankfurt, Munich, and Prague. Its primary focus centered on building online retail platforms for both small and medium-sized enterprises as well as large multinational corporations.
Public offering and recovery
SinnerSchrader transitioned to a stock corporation in 1999, successfully raising approximately €28 million through its initial public offering on the Frankfurt Stock Exchange. From 2003, its shares were listed on the Prime Standard segment of the German Stock Exchange. The aftermath of the dot-com crash led to considerable declines in revenue and profitability, necessitating reduced working hours. Oliver Sinner exited the company in 2002, leaving Matthias Schrader at the helm. By the fiscal year 2004/2005, the firm had returned to profitability and is often cited as an example of effective recovery following the new economy downturn.
Expansion into new sectors
E-commerce remained a vital growth driver for SinnerSchrader. The agency also pursued growth through diversification, acquiring smaller firms and establishing an advertising agency to broaden its portfolio of services.
In 2006, to commemorate a company milestone, SinnerSchrader introduced the Next Conference, which concentrated on digital transformation along with its societal and economic consequences.
Acquisition by Accenture
Accenture took a controlling interest in SinnerSchrader in 2017, initially acquiring 60% of shares and eventually increasing its stake beyond 90%, with remaining shareholders receiving cash buyouts. By 2019, SinnerSchrader was removed from public trading.
Following the acquisition, SinnerSchrader became integrated into Accenture Interactive, where Matthias Schrader led operations within the DACH region. Since 2022, all agencies acquired by Accenture have been consolidated under Accenture Song. Matthias Schrader left the company during that year.
Corporate structure
SinnerSchrader functioned as a stock corporation (Aktiengesellschaft) under German corporate law. In 2022, shareholders approved a merger with Accenture Digital Holdings, headquartered in Kronberg im Taunus. After this consolidation, SinnerSchrader was deregistered from the German commercial register.
Controversies
In 2005, SinnerSchrader was listed among the "largest capital destroyers" on the German stock market. The company challenged this classification, prompting Deutsche Schutzvereinigung für Wertpapierbesitz to acknowledge inaccuracies and subsequently revise their evaluation of SinnerSchrader's stock performance.
External links
- Archived version of the SinnerSchrader website