Acquisition would enhance Accenture’s capabilities to help clients accelerate and scale their transformation projects across the financial services industry
PARIS, Jun 18, 2021--(BUSINESS WIRE)--Accenture (NYSE: ACN) has entered into an agreement to acquire Exton Consulting, a French consulting firm providing strategy and business management support to financial services clients across Europe. Financial terms of the transaction are not being disclosed.
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Accenture to acquire Exton Consulting (Photo: Business Wire)
Founded in 2006 and headquartered in Paris, France, Exton Consulting helps executive boards at major banks and insurance companies successfully manage growth and transformation projects in various markets across Europe. The team of approximately 150 highly skilled professionals would join Accenture’s Financial Services industry group and strengthen its ability to offer innovative end-to-end solutions to a broader range of financial services companies, covering all aspects of their transformation projects including strategy, design, technology, and operations.
Olivier Girard, market unit lead for Accenture France & Benelux, said: "Our intent to acquire Exton Consulting is part of our overall growth strategy to expand critical skills and capabilities in strategic, high-growth areas of the market. It underscores our commitment to the financial services industry, which is facing unprecedented transformation driven by economic and geopolitical uncertainties, regulatory challenges, digital transformation, urgency to reinvent the client experience, and the need to rethink operating models. This acquisition would cement Accenture’s standing as a leading Strategy & Consulting firm for Financial Services clients in France and beyond, taking our innovative end-to-end solutions to new levels of speed and scale."
Cedric Vatier, Strategy & Consulting Lead for Accenture France & Benelux, said: "The major challenges that our financial services clients face today are global, and clients need holistic solutions to address them and to turn them into new opportunities. The acquisition of Exton Consulting would enhance our ability to leverage the combination of our talented group of people with the latest technologies—such as artificial intelligence, data, and cloud—to help clients embrace change, accelerate transformation, unlock value, and build new sustainable models that benefit all."
"For 15 years, Exton Consulting's team has been supporting the Financial Services sector companies in their transformation, from strategy to implementation. Today, driven by the digitalization of the economy different spheres of business advisory are now coming together. We are excited about the opportunity to join Accenture, which would allow us to accelerate our strategy. The combination of innovation, technology and data skills with our expertise would help us offer highly differentiated, end-to-end services to an even-broader client base, both existing and future," said Philippe Derambure, co-founder of Exton Consulting.
The acquisition requires prior consultation with the relevant works councils and is subject to customary closing conditions.
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.
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 Exton Consulting 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.
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