Accenture (NYSE: ACN) has entered into an agreement to acquire
BRIDGEi2i, an artificial intelligence (AI) and analytics firm
headquartered in Bangalore, India, with additional offices in the
US and Australia. The acquisition will add more than 800 deeply
skilled professionals to Accenture’s Applied Intelligence practice,
strengthening and scaling up its global capabilities in data
science, machine learning and AI-powered insights. The financial
terms of the transaction are not being disclosed.
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BRIDGEi2i to become part of Accenture
(Graphic: Business Wire)
Founded in 2011, BRIDGEi2i specializes in data-driven digital
transformation for companies across industries and global markets
by combining data engineering, advanced analytics, proprietary AI
accelerators and consulting services. It helps enterprises drive
insights for faster and more accurate decision-making, thereby
enabling shorter time to value.
Accenture research shows that organizations that are stepping up
investments in technologies such as AI and cloud are growing
revenue at five times the rate of those not making these strategic
investments.
“The COVID-19 pandemic has made technologies such as AI core to
business success, with scaled investments enabling enterprises to
thrive by refocusing on growth during the most disruptive time in
their history,” said Sanjeev Vohra, global lead for Accenture
Applied Intelligence. “In this rapidly evolving space, constantly
building new capabilities is key, and we believe that BRIDGEi2i
will further enhance our AI skills and data science capabilities to
strengthen how our global network delivers value for clients.”
“The digital enterprise of the future is being reimagined today
with AI. At BRIDGEi2i, we believe in diving into the heart of
business challenges and driving transformation in its truest sense
for our clients by combining our AI capabilities with our digital
consulting expertise,” said Prithvijit Roy, chief executive officer
and co-founder, BRIDGEi2i. “We are excited to join Accenture and
believe that our people and approach will complement their
capabilities and help us scale up our impact across
industries.”
This acquisition will augment Accenture’s growing analytics,
data and AI business around the world, joining the acquisitions of
Analytics8 in Australia, Pragsis Bidoop in Spain, Mudano in the UK,
Byte Prophecy in India, Sentelis in France, and Clarity Insights,
End-to-End Analytics and Core Compete in the US.
Completion of the acquisition is subject to customary closing
conditions.
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 624,000
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.
Applied Intelligence is Accenture’s approach to scaling AI for
clients by embedding AI-powered data, analytics and automation
capabilities into business workflows, accelerating time to value
with a powerful global alliance, innovation and delivery network
that can deploy and scale AI within any market and industry. To
learn more, visit www.accenture.com/appliedintelligence.
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: Accenture and
BRIDGEi2i 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 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 utilization 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 organizational
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 utilize 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.
Copyright © 2021 Accenture. All rights reserved. Accenture, and
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version on businesswire.com: https://www.businesswire.com/news/home/20211011005650/en/
Katy Rosati Accenture +1 917 452 6662
kathryn.rosati@accenture.com
Subhashini Pattabhiraman Accenture +91 9819773385
p.subhashini@accenture.com
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