Accenture: (NYSE: ACN) has acquired Industrie&Co, a technology consultancy that designs and creates cloud native solutions for enterprises and “born in the cloud” fast emerging companies. The acquisition expands Accenture’s Cloud First capabilities in delivering cloud native services for clients, particularly within financial services, as they increasingly transform into digital businesses and build new digital products and services. Terms of the transaction are not being disclosed.
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Matthew Coates, Accenture Australia & New Zealand Cloud First Lead & Con Zeritis, CEO of Industrie&Co. (Photo: Business Wire)
Founded in 2007, and headquartered in Sydney, with offices in Melbourne, Hong Kong and Singapore, Industrie&Co brings to Accenture a deep heritage in cloud infrastructure engineering, offering organisations a comprehensive service suite encompassing capabilities across strategy, design and delivery of cloud products and platforms.
With 173 employees, Industrie&Co has strong financial services experience spanning multiple verticals, including banking, payments, wealth management, superannuation, insurance and capital markets.
The acquisition enables Accenture Cloud First to apply its leading multi-service capabilities and provide clients with an unparalleled combination of industry knowledge, cloud and infrastructure experience, and cloud ecosystem leadership.
“Cloud is the foundation for digital transformation and success in the next decade will be defined by the new experiences, products and services that cloud makes possible,” said Karthik Narain, global lead for Accenture Cloud First. “Industrie&Co brings even more cloud-first skills to help Accenture clients innovate with speed, predictability and holistic value as they shape, move and operate their businesses in the cloud.”
Con Zeritis, CEO of Industrie&Co said, “We are delighted to have the opportunity to become part of Accenture, we share entrepreneurial values and ambition to drive innovation, growth and business outcomes. Accenture’s vast client network, global scale and investment in their cloud-first strategy makes for an ideal home to enable us to accelerate our growth objectives for both our clients and team.”
“The Industrie&Co team brings to Accenture a strong industry footprint and culture of innovation, that will enable us to drive growth for our clients,” said Tara Brady, market unit lead for Accenture in Australia and New Zealand. “In the context of a constrained talent market, Industrie&Co’s skills will ensure we are well positioned to continue to accelerate our client’s growth and innovation capabilities.”
Accenture’s acquisition of Industrie&Co follows other investments across Australia and New Zealand in the past 18 months, including operational technology provider Electro 80, supply chain and logistics consulting firm GRA, cloud-native solutions provider Olikka, SAP and cloud solutions technology firm Zag, data analytics and supply chain management company Icon Integration and business strategy and econometrics firm AlphaBeta.
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. Many of the following risks, uncertainties and other factors identified below are, and will be, amplified by the COVID-19 pandemic. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been significantly adversely affected and could in the future be materially adversely impacted by the COVID-19 pandemic; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilisation rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture could face legal, reputational and financial risks if the company fails to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; if Accenture is unable to manage the organisational challenges associated with its size, the company might be unable to achieve its business objectives; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilise the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.
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Contacts
Georgia Hewett
Accenture
+61 417 699 567
georgia.hewett@accenture.com
