U.S.-headquartered professional services automation (PSA) platform Accelo has acquired UK-based Forecast, an AI-native project and resource management software firm, in an all-equity deal announced on 22 July 2025. The move deepens Accelo’s AI capabilities and extends its customer footprint across Europe.
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, backed by Bow River Capital and Level Equity, said the deal would 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. While transaction terms remain undisclosed, industry benchmarks suggest the deal likely falls in the $50–80 million range based on Forecast’s estimated ARR.
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. Meanwhile, AI project-management tools are projected to expand at nearly 17% CAGR over the same period.
Accelo’s platform—originally developed in Australia and now headquartered in Denver—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.
The combined offering is expected to appeal to mid-market professional services firms—particularly those with 100–1,000 seats migrating from legacy tools. Analysts suggest this could intensify pressure on incumbent vendors including Certinia, Kantata, and Atlassian, which are all stepping up their AI feature sets.
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 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.
