Accelo, a company offering a professional services automation (PSA) platform, has acquired UK-based Forecast, an AI-native project and resource management software firm, in an all-equity deal. The acquisition is set to deepen Accelo’s AI capabilities and extend its customer footprint across Europe.
Accelo’s platform offers modules spanning CRM, billing, retainers, and analytics. Forecast’s integration will address what SelectHub recently called a “notable AI scheduling gap” in Accelo’s stack.
Forecast, which relocated its headquarters from Copenhagen to London in 2020, is known for its proprietary “AI-Native” auto-scheduling engine and serves over 600 consulting and IT services clients. Accelo, originally developed in Australia and now headquartered in Denver, Colorado, feels the deal will help the combined group scale to more than 2,100 customers globally.
“We’re building a smarter, more agile solution that provides global enterprise clients the critical insights for profitable project delivery,” said Accelo CEO Karen Sawyer. Forecast founder and CEO Dennis Kayser added: “This combination gives us rocket fuel for product roadmap innovation and client success investment.”
Bow River Capital led the add-on investment, having taken a majority stake in Accelo in early 2024. Level Equity, which led Accelo’s Series A in 2017, will retain a board seat post-deal. The transaction terms remain undisclosed.
The acquisition comes amid double-digit growth in both PSA and AI project management software markets. Analysts forecast the global PSA market to grow from $15.2 billion in 2025 to $26 billion by 2030 at an 11% CAGR (Compound Annual Growth Rate). Meanwhile, AI project-management tools are projected to expand at nearly 17% CAGR over the same period.
The combined offering is expected to appeal to mid-market professional services firms—particularly those with 100–1,000 seats migrating from legacy tools.
Integration is expected to begin immediately, with a phased roadmap to expose Forecast’s AI tools via Accelo APIs within nine months. Forecast’s 75 employees will join Accelo, with Dennis Kayser taking on a new role as SVP of Product AI. Dual-platform support will remain in place “for the foreseeable future,” according to the companies.
The article contains forward-looking statements, these inlude predictions, projections, or expectations about a company’s performance, plans, or strategies that may or may not happen, and thus caution should be exercised.
