Accenture Announces Intention to Acquire Cirruseo, a Leader in Google Cloud Solutions in France
PARIS--(BUSINESS WIRE)--Apr 8, 2019--Accenture (NYSE:ACN) has entered into exclusive negotiations to acquire Cirruseo, a leading pure-play Google Cloud services provider in France. The acquisition requires prior consultation with the relevant works councils and would be subject to customary closing conditions. Financial terms of the transaction are not being disclosed.
The acquisition would strengthen Accenture’s expertise in Google Cloud in the French market and more broadly across Europe by enhancing its ability to help clients apply Google Cloud technologies in an industry-specific context, at speed and at scale. Cirruseo’s expertise would also fortify Accenture’s ability to help clients accelerate innovation by leveraging the cloud to analyze increasing volumes of data and create hyper-personalized client experiences, all with secured architectures.
“The addition of Cirruseo would be a significant step forward in our growth strategy in France, bringing a strong team of Google Cloud specialists to Accenture,” said Olivier Girard, Accenture’s Geographic Unit managing director for France and Benelux. “The combination of Cirruseo’s mastery of Google Cloud technologies with our expertise in digital marketing, artificial intelligence and cybersecurity would enhance our ability to deliver a unique end-to-end service offering to help clients with their digital transformations.”
Bhaskar Ghosh, group chief executive of Accenture Technology Services, added, “At a global level, the acquisition of Cirruseo would demonstrate Accenture’s commitment to investing in the skills and capabilities needed to help our clients apply new technologies to accelerate innovation and achieve business outcomes. Growing our Google Cloud capabilities enables Accenture to continue to bring the new to life for our global clients across industries, at scale, each and every day.”
Providing consulting and implementation services for Google Cloud Platform and G Suite solutions, Cirruseo has nearly 100 highly skilled Google Cloud professionals and is a Google Cloud Premier Partner, as well as a certified trainer for Google Cloud technologies. Since its creation in 2011, Cirruseo has helped more than 600 clients, including some of the largest French companies, define and execute their Google Cloud-based strategies.
“As the demand for Google Cloud services is booming, joining Accenture is an exciting opportunity for us to help even more organizations benefit from the potential of Google Cloud to drive innovation,” said Hervé Romain, co-founder and CEO of Cirruseo. “The combination of our deep expertise in Google Cloud technologies with Accenture’s industry knowledge and experience in global large-scale cloud initiatives would allow us to bring highly differentiated end-to-end services to the market.”
Cirruseo’s deep experience with Google Cloud’s artificial intelligence solutions, including data analytics and machine learning tools, would further reinforce Accenture Applied Intelligence ’s leadership position in delivering applied intelligence solutions to clients.
Cirruseo would enhance Accenture’s end-to-end Intelligent Software Engineering and Intelligent Cloud & Infrastructure Services and will complement the existing capabilities of the Accenture Google Cloud Business Group, which is focused on developing industry based solutions in high-growth areas to accelerate clients’ adoption of Google Cloud. Accenture has more than 2,600 Google Cloud practitioners and has delivered more than 21,000 cloud transformations in nearly every industry.
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 477,000 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.
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 and Cirruseo 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 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 changing 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 breaches or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; 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 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; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; 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; 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; 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’s ability to attract and retain business and employees may depend on its reputation in the marketplace; 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 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; 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; 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; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; 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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PUB: 04/08/2019 05:18 PM/DISC: 04/08/2019 05:18 PM