Accenture (NYSE:ACN) has entered into an agreement to acquire
Kurt Salmon, a leading global strategy consulting firm focused on
the retail industry and a subsidiary of Management Consulting
Group. The acquisition will expand Accenture Strategy’s
capabilities in delivering end-to-end strategy consulting services
to top retailers and private equity firms in a world disrupted by
digital.
Completion is subject to regulatory approvals, approval of the
transaction by Management Consulting Group’s shareholders and other
customary closing conditions.
Founded in 1935, Kurt Salmon has more than 260 employees serving
clients across the world, and offices in the U.S., Germany, UK,
Japan and China. The company is known for operational strategy
consulting, including logistics and supply chain, merchandising and
product development, corporate strategy and due diligence, and
omni-channel retail strategy.
“With digital disruption forcing retailers to rethink their
entire business and operating models, we expect continued strong
demand for strategy consulting services in this industry,” said
Mark Knickrehm, chief executive officer, Accenture Strategy. “This
acquisition will enhance our ability to deliver the
industry-specific strategies that our clients are increasingly
seeking, in order to drive competitiveness and operational
excellence at the intersection of business and technology.”
Chris Donnelly, retail industry lead, Accenture Strategy, said,
“In an environment dominated by rapidly rising customer
expectations, industry convergence and low barriers to entry, our
retail clients are looking for end-to-end strategy solutions to
navigate this disruption. Through this acquisition, we will be able
to offer our clients a powerful combination of services to help
shape the transformation of the retail sector.”
Following completion of the acquisition, Kurt Salmon’s employees
are expected to join the Accenture Strategy retail industry
practice.
“Our retail clients are increasingly looking for agile and
pragmatic solutions from industry experts that enable their
transformation journey and help them gain competitive advantage,”
said Brooks Kitchel, CEO of Kurt Salmon. “Joining Accenture
Strategy will enable us to bring new value to our clients in a
collaborative, global and client-centric environment that aligns
with our company culture and mission.”
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.
Accenture Strategy operates at the intersection of business and
technology. We bring together our capabilities in business,
technology, operations and function strategy to help our clients
envision and execute industry-specific strategies that support
enterprise wide transformation. Our focus on issues related to
digital disruption, competitiveness, global operating models,
talent and leadership help drive both efficiencies and growth. For
more information, follow @AccentureStrat or visit
www.accenture.com/strategy.
About Kurt Salmon
Kurt Salmon is a global management consulting firm dedicated to
building the market leaders of tomorrow. More than just partnering
with our clients, we ally with them, integrating ourselves
seamlessly into their organizations in order to develop innovative,
customized solutions for their 21st-century business issues.
Succeeding in today’s increasingly complex, consumer-driven
environment is an enormous challenge. But companies need to look
beyond today; they need to position themselves for continued
success in the even more uncertain future. That’s where Kurt Salmon
comes in.
We call it delivering “success for what’s next.” The results are
transformative.
www.kurtsalmon.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: Accenture, Kurt Salmon and
Management Consulting Group 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 Accenture; Accenture’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; Accenture’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 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 utilization rate of
the company’s professionals and the company’s results of operations
may be materially adversely affected; the markets in which
Accenture competes are highly competitive, and Accenture might not
be able to compete effectively; Accenture could have liability or
Accenture’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; Accenture’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 Accenture 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 Accenture’s contracts could have delivery
inefficiencies and be less profitable than expected or
unprofitable; Accenture’s results of operations could be materially
adversely affected by fluctuations in foreign currency exchange
rates; Accenture’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; 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 might not be successful at
identifying, acquiring or integrating businesses, entering into
joint ventures or divesting businesses; Accenture’s Global Delivery
Network is increasingly concentrated in India and the Philippines,
which may expose it to operational risks; changes in Accenture’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
Accenture’s geographically diverse operations and its growth
strategy to continue geographic expansion, the company is more
susceptible to certain risks; adverse changes to Accenture’s
relationships with key alliance partners or in the business of its
key alliance partners could adversely affect the company’s results
of operations; Accenture’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 Accenture is unable to protect its intellectual property
rights from unauthorized use or infringement by third parties, its
business could be adversely affected; Accenture’s ability to
attract and retain business and employees may depend on its
reputation in the marketplace; if Accenture 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 Accenture makes in connection
with the preparation of its consolidated financial statements could
adversely affect its financial results; many of Accenture’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
Accenture is unable to collect its receivables or unbilled
services, the company’s results of operations, financial condition
and cash flows 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; 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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version on businesswire.com: http://www.businesswire.com/news/home/20160921006658/en/
AccentureJustyna Gnyp, + 44 750 012
4567justyna.gnyp@accenture.comorAnthony Hatter, + 44 7810 756
138anthony.hatter@accenture.com
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