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ACCENTURE PLC

(ACN)
  Report
Delayed Nyse  -  04:00 2022-10-07 pm EDT
259.71 USD   -3.62%
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Accenture Completes Acquisition of Commerce Agency The Stable

08/17/2022 | 05:18am EDT

NEW YORK -- Accenture (NYSE: ACN) has completed its acquisition of The Stable, a commerce agency focused on helping consumer brands build and operate their own digital commerce channels as well as manage their brand and sales performance across key North American retailers, reinforcing Accenture's continued investments in commerce to help clients accelerate growth and sustain relevance.

The acquisition of The Stable, previously announced on July 13, adds more than 400 people to Accenture bringing unparalleled omnichannel commerce capabilities and expertise that drive revenue and efficiency for brands across consumer goods, retail, marketplaces and direct-to-consumer (DTC) channels.

"The closing of our acquisition of The Stable signals the strengthening of our commerce capabilities," said Glen Hartman, Accenture Song's global lead for commerce services. "The depth and breadth of our commerce expertise will enable us to continue to meet clients' demand for commerce experience reinvention in a way that matches the ever-evolving relationship between customers and brands."

Founded in 2015 and recognized as one of Inc. Magazine's fastest-growing private companies in 2021, The Stable has a track record of growing consumer brands of all sizes, stages, and verticals through omnichannel retail and DTC commerce.

Financial terms of the transaction were not disclosed.

As Accenture Song continues to help clients fast-track their commerce transformation across the customers' entire life journey, the acquisition of The Stable represents a significant milestone as the first commerce acquisition since the unveiling of Accenture Song.

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," "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 risks include, without limitation, risks that: Accenture and The Stable 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, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions, including the invasion of Ukraine by Russia, the related sanctions and other measures that have been and continue to be imposed in response to this conflict, as well as the current inflationary environment, 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.

About Accenture

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 710,000 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 accenture.com.

Accenture Song accelerates growth and value for our clients through sustained customer relevance. Our capabilities span ideation to execution: growth, product and experience design; technology and experience platforms; creative, media and marketing strategy; and campaign, commerce transformation content and channel orchestration. With strong client relationships and deep industry expertise, we help our clients operate at the speed of life through the unlimited potential of imagination, technology and intelligence.

# # #

Contact:

Julian McBride

Accenture

+1 917 244 9398

julian.mcbride@accenture.com

Copyright © 2022 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Sales 2022 61 572 M - -
Net income 2022 6 891 M - -
Net cash 2022 8 663 M - -
P/E ratio 2022 25,2x
Yield 2022 1,44%
Capitalization 170 B 170 B -
EV / Sales 2022 2,63x
EV / Sales 2023 2,52x
Nbr of Employees 721 000
Free-Float 90,7%
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KC McClure Chief Financial Officer
Paul R. Daugherty Group Chief Executive Officer-Technology Division
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Manish Sharma Chief Operating Officer
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