June 06, 2022
Accenture Acquires Advocate, Expanding Technology Business Management Capabilities
NORCROSS, GA; June 6, 2022 – Accenture (NYSE: ACN) has acquired Advocate Networks, LLC, a leading technology consultancy and managed services provider of Technology Business Management (TBM) solutions that help organizations create business value, achieve cost savings and modernize their technology platforms. Terms of the transaction were not disclosed.
Headquartered in Norcross, Georgia, Advocate’s team of more than 85 professionals is joining Accenture’s practice, bringing capabilities for helping clients define, architect and measure value from their digital and cloud transformations. Advocate has deep technology expertise and a full suite of services that help organizations align technology investments with business goals and uncover savings to reinvest in initiatives that drive growth and transformation.
“Organizations expect their technology investments to fuel innovation and transform business operations and are increasingly adopting TBM principles to optimize spend and deliver and demonstrate immediate strategic business value,” said Keith Boone, Accenture’s North America Technology Strategy & Advisory lead. “With the powerful combination of Accenture and Advocate, we will offer a multitude of industry-leading resources and capabilities to help our clients measure the value of technology initiatives in a clear, quantifiable manner.”
Advocate’s full suite of TBM services, from strategic advisory to TBM-as-a-service (TBMaaS), complement Accenture’s cloud and digital transformation services and end-to-end capabilities for TBM and FinOps. Advocate also brings accelerators for industry-leading tools and dashboards for IT value management and services that will enhance insights provided by Accenture’s proprietary assets, such as Accenture Momentum, myConcerto, myDiagnostic and myNav, with additional TBM analytics.
“For more than two decades, Advocate’s enterprise clients have relied on our dedicated team of TBM advisors, industry thought leaders and technology specialists to improve efficiency and uncover savings for new investments,” said Tim Wise, co-founder and co-CEO of Advocate. “We share Accenture Technology Strategy & Advisory’s purpose for helping clients architect and realize exceptional business value from technology and are excited to bring our combined capabilities to both new and existing customers.”
Accenture’s Technology Strategy & Advisory practice works with clients to define their technology visions and build the necessary roadmaps and execution plans to create sustainable value from technology investments.
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, Technology and Operations services and Accenture Song—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 699,000 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 ataccenture.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 may be amplified by the invasion of Ukraine by Russia, the sanctions (including their duration), and other measures being imposed in response to this conflict, as well as any escalation or expansion of economic disruption or the conflict’s current scope. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; 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 faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; 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 match people and 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; the COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; 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; 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 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; 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; 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; 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’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; 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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