Accenture to Acquire Australian Security Company Redcore
August 22 2016 - 5:57PM
Business Wire
Acquisition Will Expand Accenture Security’s
Offerings, Presence in Asia-Pacific
Accenture (NYSE:ACN) has entered into an agreement to acquire
Redcore, a privately held Australia-based consulting company that
specializes in providing identity and access management services
(IAM), as well as security services for Cloud, network management,
public key infrastructure, cyber defense, applications and the
internet of things.
The acquisition is subject to customary closing conditions.
Financial terms are not being disclosed.
As part of its offerings, Redcore develops holistic
authentication, authorization and administration services across a
range of cloud, web, mobile and adaptive access-management
technologies. Redcore has deployed multiple large-scale
cybersecurity solutions, including multi-factor authentication and
secure application gateways that are used by some of the major
Australian banks and government agencies.
“The acquisition of Redcore will allow us to expand our existing
IAM services and security-as-a-Service capabilities – along with
other critical cyber defense services – while also immediately
extending our leadership position in the Asia-Pacific region,” said
Kelly Bissell, managing director, Accenture Security. “Redcore has
a team of seasoned security leaders who have exceptional security
skills and industry knowledge. Together, we will be better
positioned to tailor intelligent security services to
organizations’ unique businesses and industries and deliver
innovative solutions that help build business resilience from the
inside out.”
Redcore, with its headquarters in Melbourne, Australia, provides
security services and IT service management for a wide range of
clients, including government agencies and companies across the
finance, health, retail and telecommunications industries. Founded
in 2010, Redcore has multiple offices in Australia, India, New
Zealand, the Philippines and Singapore and has approximately 130
security professionals.
Joseph Failla, co-founder, Redcore, said, “We are excited to
become part of Accenture Security and to bring our proven deep,
highly-specialized skills and services to strengthen Accenture’s
IAM and other cybersecurity offerings. We are very proud of
Redcore’s wonderful team and our achievements, and we now look
forward to creating an unrivalled combined cybersecurity team and
launching capabilities that will change the market. With
Accenture’s extensive global security resources, its methodologies
and its interdisciplinary security ecosystem of innovators from
across the world, we will be able to rapidly advance Redcore’s
capabilities and innovate leading-edge solutions for clients, as
well as provide excellent opportunities and career paths for our
employees.”
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world’s largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With more than 375,000
people serving clients in more than 120 countries, Accenture drives
innovation to improve the way the world works and lives. 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. These
include, without limitation, risks that: the company and Redcore
will not be able to close the transaction in the time period
anticipated, or at all, which is dependent on the parties’ ability
to satisfy certain closing conditions; the transaction might not
achieve the anticipated benefits for the company; the company’s
results of operations could be adversely affected by volatile,
negative or uncertain economic conditions and the effects of these
conditions on the company’s clients’ businesses and levels of
business activity; the company’s business depends on generating and
maintaining ongoing, profitable client demand for the company’s
services and solutions, and a significant reduction in such demand
could materially affect the company’s results of operations; if the
company 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 utilization rate of the company’s professionals and
the company’s results of operations may be materially adversely
affected; the markets in which the company competes are highly
competitive, and the company might not be able to compete
effectively; the company could have liability or the company’s
reputation could be damaged if the company fails to protect client
and/or company data or information systems as obligated by law or
contract or if the company’s information systems are breached; the
company’s results of operations and ability to grow could be
materially negatively affected if the company cannot adapt and
expand its services and solutions in response to ongoing changes in
technology and offerings by new entrants; the company’s results of
operations could materially suffer if the company is not able to
obtain sufficient pricing to enable it to meet its profitability
expectations; if the company does not accurately anticipate the
cost, risk and complexity of performing its work or if the third
parties upon whom it relies do not meet their commitments, then the
company’s contracts could have delivery inefficiencies and be less
profitable than expected or unprofitable; the company’s results of
operations could be materially adversely affected by fluctuations
in foreign currency exchange rates; the company’s profitability
could suffer if its cost-management strategies are unsuccessful,
and the company may not be able to improve its profitability
through improvements to cost-management to the degree it has done
in the past; the company’s business could be materially adversely
affected if the company incurs legal liability; the company’s work
with government clients exposes the company to additional risks
inherent in the government contracting environment; the company
might not be successful at identifying, acquiring or integrating
businesses, entering into joint ventures or divesting businesses;
the company’s Global Delivery Network is increasingly concentrated
in India and the Philippines, which may expose it to operational
risks; changes in the company’s level of taxes, as well as audits,
investigations and tax proceedings, or changes in the company’s
treatment as an Irish company, could have a material adverse effect
on the company’s results of operations and financial condition; as
a result of the company’s geographically diverse operations and its
growth strategy to continue geographic expansion, the company is
more susceptible to certain risks; adverse changes to the company’s
relationships with key alliance partners or in the business of its
key alliance partners could adversely affect the company’s results
of operations; the company’s services or solutions could infringe
upon the intellectual property rights of others or the company
might lose its ability to utilize the intellectual property of
others; if the company is unable to protect its intellectual
property rights from unauthorized use or infringement by third
parties, its business could be adversely affected; the company’s
ability to attract and retain business and employees may depend on
its reputation in the marketplace; if the company is unable to
manage the organizational challenges associated with its size, the
company might be unable to achieve its business objectives; any
changes to the estimates and assumptions that the company makes in
connection with the preparation of its consolidated financial
statements could adversely affect its financial results; many of
the company’s contracts include payments that link some of its fees
to the attainment of performance or business targets and/or require
the company to meet specific service levels, which could increase
the variability of the company’s revenues and impact its margins;
if the company is unable to collect its receivables or unbilled
services, the company’s results of operations, financial condition
and cash flows could be adversely affected; the company’s results
of operations and share price could be adversely affected if it is
unable to maintain effective internal controls; the company 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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AccentureAlison Geib, + 1
703-947-4404alison.geib@accenture.com
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