Accenture (NYSE: ACN) has entered into an agreement to acquire
Logic, a retail technology services firm that works with retailers
to drive customer loyalty, boost revenue and increase agility
through the use of technology. With strong capabilities in
merchandising, stores, digital, analytics and cloud, the
acquisition of Logic will further enhance Accenture’s ability to
drive technology transformations for retail clients globally.
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Logic to become part of Accenture.
(Graphic: Business Wire)
With a deep understanding of the retail industry and operational
management, Logic will bring approximately 800 professionals with
specialized skills in retail-focused technical strategies to
Accenture Technology. Founded in 1997 and headquartered in
Minneapolis, Minnesota, Logic has offices in 11 countries that
serve more than 150 retail clients worldwide.
“Business disruption is intensifying and requires retailers to
embrace a strategy of continuous reinvention to deliver value
across every part of the business with digital technology at the
core,” said Jill Standish, global lead of Accenture’s Retail
industry practice. “The addition of Logic’s expertise and
industry-specific skills will further enhance our ability to
deliver comprehensive retail solutions and drive transformative
outcomes for our clients to thrive is this dynamic
marketplace.”
Bill Szlaius, Co-Founder & CEO, Logic said, “For more than
25 years, our focus at Logic has been helping our retail clients
move faster, innovate smarter and thrive in the face of retail
disruption. Joining Accenture will enable us to expand our reach
and accelerate our mission, providing even greater value to our
clients and unlocking new growth opportunities for our talented
team.”
Logic will expand Accenture’s retail capabilities with the
addition of essential skills in core technologies and platforms, as
well as artificial intelligence (AI) and generative AI, to drive
innovation for clients. This strategic move underscores Accenture’s
commitment to helping retailers transform their organizations with
technology so that they can better navigate the evolving retail
landscape with confidence.
“Today, all business strategies lead to technology. Companies
will need to transform every part of their enterprise using cloud,
data, and AI to optimize operations and accelerate growth,” said
Karthik Narain, group chief executive – Technology at Accenture.
“Logic’s digital, data and cloud capabilities, coupled with its
deep industry experience, will complement Accenture Technology’s
capabilities and further expand our ability to deliver impactful
results to our clients.”
Completion of the acquisition is subject to customary closing
conditions, including receipt of regulatory approvals. Terms of the
transaction were not disclosed.
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 and Logic 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 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; 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. 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 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 approximately 750,000 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 and leadership in cloud, data and AI
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 Song. These capabilities, together with our culture
of shared success and commitment to creating 360° value, enable us
to help our clients reinvent 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240712832662/en/
Tara Burns Accenture +44 7850 435 158
tara.burns@accenture.com
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