OTTAWA, Ontario–(Small business WIRE)–Oct 7, 2020–
Accenture (NYSE: ACN ) has agreed to purchase Avenai, an Ottawa-dependent provider of consulting and technological innovation solutions. Money terms have been not disclosed.
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Accenture to get Avenai (Photograph: Business Wire)
With Avenai’s important concentrate on the community sector current market, the acquisition will enrich Accenture’s potential to travel the engineering transformation using position throughout the public sector in Canada.
“COVID-19 is main quite a few Canadian corporations to accelerate their technological know-how transformations to make sure they occur out forward in this new reality, and that’s why we are incorporating drastically to our workforce of experts in Ottawa,” explained Jeffrey Russell, president of Accenture in Canada. “We seem forward to doing work with the Avenai group to enable our customers change to meet the problems of now and the long run.”
Mark Lambert, managing director and federal community provider exercise lead in Canada, stated, “Government companies are at a electronic transformation tipping issue, with a lot of departments and businesses quickly transferring to the cloud and embracing new methods to modernize and make improvements to shipping and delivery designs and services for Canadians. Avenai brings a stellar consulting group that will be amplified by Accenture’s world-wide access to help our clients’ broad ambitions.”
Considering the fact that its institution in 2012, Avenai has constructed a solid status with federal government and business customers in the Ottawa and Toronto locations, rising from 4 to extra than 70 personnel. Avenai supports essential factors of business alter, together with technique improvement, procedure enhancement, IT-enabled enterprise transformation, and corporation lifestyle transformation.
Avenai founders Chris Brennan, Mike Scotten and Brendan Timmins will be a part of Accenture as controlling administrators in its Method & Consulting practice. They will go on to lead the staff they aided establish at Avenai and will also work with Accenture management across other techniques to shape and pursue new business chances. Avenai’s workforce will also be a part of Accenture’s Strategy & Consulting exercise.
“Accenture and Avenai share values of shipping excellence, collaboration and local community,” reported Chris Brennan, Avenai’s CEO and co-founder. “Our team is psyched about the option to provide our know-how jointly with Accenture’s to provide the best outcomes for our customers and new options for our individuals.”
The acquisition is subject matter to customary closing situations.
Accenture is a main worldwide qualified solutions organization, supplying a broad vary of expert services in tactic and consulting, interactive, engineering and operations, with digital capabilities throughout all of these services. We blend unmatched knowledge and specialised capabilities throughout extra than 40 industries — driven by the world’s biggest community of Sophisticated Technology and Intelligent Functions facilities. With 506,000 people today serving customers in much more than 120 nations, Accenture delivers continuous innovation to assistance clients improve their performance and build long lasting value throughout their enterprises. Take a look at us at www.accenture.com.
Other than for the historical information and discussions contained herein, statements in this news release may well constitute ahead-on the lookout statements within the that means of the Personal Securities Litigation Reform Act of 1995. Words and phrases such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and identical expressions are made use of to detect these forward-seeking statements. These statements involve a amount of threats, uncertainties and other elements that could bring about actual success to vary materially from all those expressed or implied. For a discussion of dangers and steps taken in reaction to the coronavirus (COVID-19) pandemic, see “Our benefits of functions have been significantly adversely impacted and could in the long term be materially adversely impacted by the COVID-19 pandemic” beneath Item 1A, “Risk Factors” in Accenture plc’s Quarterly Report on Sort 10-Q for the quarterly period of time finished Might 31, 2020. Several of the subsequent threats, uncertainties and other aspects identified down below are, and will be, amplified by the COVID-19 pandemic. These threats incorporate, devoid of limitation, pitfalls that: Accenture and Avenai will not be capable to shut the transaction in the time period predicted, or at all, which is dependent on the parties’ ability to fulfill specified closing circumstances the transaction may possibly not achieve the expected gains for Accenture Accenture’s success of operations have been substantially adversely afflicted and could in the foreseeable future be materially adversely impacted by the COVID-19 pandemic Accenture’s results of functions could be adversely afflicted by unstable, unfavorable or uncertain financial and political problems and the effects of these conditions on the company’s clients’ companies and stages of small business activity Accenture’s organization relies upon on making and sustaining ongoing, profitable shopper need for the company’s solutions and solutions including by means of the adaptation and growth of its services and options in response to ongoing adjustments in know-how and offerings, and a substantial reduction in such demand or an incapability to reply to the evolving technological atmosphere could materially affect the company’s results of functions if Accenture is unable to keep its provide of skills and resources in harmony with client desire close to the world and attract and retain industry experts with powerful leadership expertise, the company’s small business, the utilization level of the company’s gurus and the company’s effects of operations may well be materially adversely afflicted Accenture could face authorized, reputational and fiscal threats if the enterprise fails to safeguard client and/or business details from safety breaches or cyberattacks the marketplaces in which Accenture operates are remarkably aggressive, and Accenture could not be able to compete effectively modifications in Accenture’s amount of taxes, as very well as audits, investigations and tax proceedings, or adjustments in tax regulations or in their interpretation or enforcement, could have a content adverse result on the company’s effective tax price, results of operations, dollars flows and monetary problem Accenture’s profitability could materially experience if the company is not able to get favorable pricing for its services and alternatives, if the enterprise is not able to keep on being aggressive, if its value-management procedures are unsuccessful or if it experiences delivery inefficiencies Accenture’s benefits of functions could be materially adversely affected by fluctuations in overseas currency exchange rates as a end result of Accenture’s geographically varied operations and its progress strategy to keep on to increase in its crucial marketplaces all around the world, the firm is extra susceptible to specified risks Accenture’s enterprise could be materially adversely afflicted if the corporation incurs legal legal responsibility Accenture’s get the job done with authorities customers exposes the organization to more pitfalls inherent in the authorities contracting natural environment if Accenture is not able to manage the organizational worries related with its size, the company may possibly be unable to reach its organization targets Accenture’s capability to catch the attention of and keep company and employees could rely on its reputation in the market if Accenture does not productively regulate and build its associations with vital alliance companions or fails to anticipate and build new alliances in new technologies, the company’s benefits of operations could be adversely impacted Accenture could possibly not be prosperous at buying, investing in or integrating enterprises, getting into into joint ventures or divesting firms if Accenture is not able to safeguard or implement its intellectual assets rights or if Accenture’s providers or solutions infringe on the intellectual residence legal rights of some others or the business loses its potential to utilize the intellectual assets of other individuals, its small business could be adversely affected Accenture’s effects of functions and share selling price could be adversely impacted if it is unable to manage successful internal controls adjustments to accounting requirements or in the estimates and assumptions Accenture helps make in relationship with the preparing of its consolidated money statements could adversely influence its financial effects many of Accenture’s contracts involve fees topic to the attainment of targets or particular assistance ranges, which could boost the variability of the company’s revenues and impression its margins Accenture might be not able to accessibility supplemental funds on favorable terms or at all and if the organization raises fairness money, it may well dilute its shareholders’ possession desire in the organization Accenture may well be issue to criticism and destructive publicity relevant to its incorporation in Eire as effectively as the hazards, uncertainties and other things talked over beneath the “Risk Factors” heading in Accenture plc’s most the latest Once-a-year Report on Type 10-K, Quarterly Report on Type 10-Q and other documents submitted with or furnished to the Securities and Trade Fee. Statements in this news launch speak only as of the date they were being made, and Accenture undertakes no responsibility to update any ahead-seeking statements made in this news launch or to conform these types of statements to genuine benefits or variations in Accenture’s expectations.
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PUB: 10/07/2020 08:45 AM/DISC: 10/07/2020 08:45 AM