Accenture To Acquire Objectivity to Expand Platform Engineering Capabilities in Europe

2023-05-09 16:20

LONDON & WARSAW, Poland--(BUSINESS WIRE)--May 9, 2023--

Accenture (NYSE: ACN) has agreed to acquire Objectivity, a digital engineering firm specializing in cloud and platform development services that help clients accelerate their transformation journey for rapid innovation. Terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230508005754/en/

Accenture has agreed to acquire Objectivity, a digital engineering firm specializing in cloud and platform development services that help clients accelerate their transformation journey for rapid innovation. (Photo: Business Wire)

With headquarters in Coventry, UK, Objectivity’s highly-skilled team will join Accenture, bringing additional scale and resources from Objectivity’s operations in the UK, Poland, Germany and Mauritius. Objectivity's extensive experience in platform engineering, cloud native computing and application modernization will bolster Accenture’s Cloud First capabilities to help clients tap into more open and adaptable platform models and services in order to accelerate their digital transformation.

“A new wave of platform engineering is creating opportunities for companies to accelerate reinvention and value creation. With a strong digital core powered by cloud, organizations can continuously adapt to industry dynamics, using platforms to reimagine value chains and embrace new business models,” said Karthik Narain, global lead for Accenture Cloud First. “Objectivity’s strong engineering culture and delivery experience will help our clients pivot and launch new products quickly and efficiently.”

“The world is undergoing massive changes, which requires organizations to continuously reinvent themselves to drive value. The breadth and depth of Objectivity’s engineering assets and talent will bolster our European platform engineering capabilities, providing our clients with the agility they need to redefine their businesses and industries,” said Jean-Marc Ollagnier, CEO of Accenture for Europe.

Rob Helle, founder of Objectivity, said, “For more than 30 years, Objectivity has provided innovative thinking to create the most fit-for-purpose digital solutions. Our values-driven culture allowed us to successfully become an international, virtual organisation, where clients and employees have been continuously growing together. Joining the Accenture team will enable us to achieve more because we will be stronger together with Accenture.”

In 2023, market research firm Everest Group positioned Accenture as a Leader for Software Product & Platform Engineering Services.

The acquisition follows other recent global investments supporting Accenture’s Platform Engineering Services, including HeadSpring, Fairway Technologies, Imaginea, among others.

Completion of the acquisition is subject to customary closing conditions.

About Accenture

Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent and innovation led company with 738,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Accenture Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients succeed and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our 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,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target,” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: 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 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 match people and their skills 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 faces legal, reputational and financial risks from any failure 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 ability to attract and retain business and employees may depend on its reputation in the marketplace; Accenture’s environmental, social and governance (ESG) commitments and disclosures may expose it to reputational risks and legal liability; if Accenture does not successfully manage and develop its relationships with key ecosystem partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; 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 results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; 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; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; 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 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. In addition, the timing and amount of costs related to our business optimization actions and the nature and extent of benefits realized from such actions are subject to uncertainties and other factors, including local country consultation processes and regulations, and may differ from our current expectations and estimates. 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230508005754/en/

CONTACT: Mylissa Tsai

Accenture

+1 617 488 7932

mylissa.tsai@accenture.comAlex Dempsey

Accenture

+44 2033 359 082

alexandra.dempsey@accenture.com

KEYWORD: EUROPE UNITED KINGDOM POLAND

INDUSTRY KEYWORD: SOFTWARE NETWORKS CONSULTING DATA MANAGEMENT ENGINEERING PROFESSIONAL SERVICES TECHNOLOGY MANUFACTURING

SOURCE: Accenture

PUB: 05/09/2023 04:10 AM/DISC: 05/09/2023 04:10 AM

http://www.businesswire.com/news/home/20230508005754/en