Accenture Acquires Boutique Australian Consultancy AlphaBeta Advisors, Bolstering Analytics-led Strategy Services
SYDNEY--(BUSINESS WIRE)--Feb 27, 2020--
Accenture (NYSE: ACN) has acquired AlphaBeta Advisors, a privately held Australian consultancy that combines business strategy, data analytics and econometrics to advise leading organisations on how to respond to profound technological, economic and social change. This acquisition will enable Accenture to expand its analytics-led Strategy capabilities in market.
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Pictured are Bob Easton, chairman of Accenture in Australia and New Zealand (left) with Dr. Andrew Charlton, founder and director at AlphaBeta Advisors (Photo: Business Wire)
As advisors to leading organisations across all major industries, such as government, technology and financial services, AlphaBeta Advisors helps clients to better understand the market forces shaping their industries now and into the future so that they can remain relevant, grow and be prosperous. AlphaBeta Advisors experts have worked on projects aimed at tackling some of Australia’s biggest contemporary challenges such as: the future of work; national reform programs; and technology and innovation, among many others.
“In its short history, AlphaBeta Advisors has carved out a unique and differentiated position in the local marketplace,” said Bob Easton, chairman of Accenture in Australia and New Zealand. “We are strongly aligned in how we work with organisations to address some of the most pressing issues and opportunities of our time. AlphaBeta Advisors’s data and analytics-led approach to strategy and consulting will boost the specialised strategic advice Accenture offers clients to help them achieve competitive agility by turning data-driven insights into real action and impact.”
Founded in 2015, AlphaBeta Advisors has a presence in Sydney, Melbourne and Canberra, and employs an experienced team of approximately 35 people with backgrounds in data analytics, economics and public policy, among others.
“Following a period of rapid growth, we are ready to take our business to the next level. By joining forces and combining our data-led advisory services with Accenture’s world-class strategy capabilities, we will be best positioned to guide clients on the journey from strategy through to execution,” said Andrew Charlton, founder and director at AlphaBeta Advisors.
In this past year, Accenture has made four other acquisitions in Australia, including SAP and business intelligence specialists, Icon Integration in February 2020; specialist Government consultancy, Apis Group in December 2019; big data and analytics company Analytics8 in August 2019; and cybersecurity and technology company BCT Solutions in June 2019.
“Our locally-focussed investment is helping to create further differentiation for our services in the marketplace. We know that innovation, underpinned by expert advice and powered by digital technologies, is a winning combination for our clients,” said Bob Easton.
The acquisition signed and closed simultaneously. Terms of the transaction were not disclosed.
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 505,000 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.
Accenture Strategy combines deep industry expertise, advanced analytics capabilities and human-led design methodologies that enable clients to act with speed and confidence. By identifying clear, actionable paths to accelerate competitive agility, Accenture Strategy helps leaders in the C-suite envision and execute strategies that drive growth in the face of digital transformation. For more information, follow @AccentureStrat or visit www.accenture.com/strategy.
About AlphaBeta Advisors
Founded in 2015, AlphaBeta Advisors saw a need for a new breed of consultant who could marry technical skills with policy insight and stakeholder management to help solve the most pressing issues facing business and government. AlphaBeta Advisors specialises in data-driven analysis that helps clients understand the forces shaping their industries, drawing on their unique suite of economic, education, employment, housing, satellite and transport data. Following a period of rapid growth, AlphaBeta Advisors now has offices in Sydney, Melbourne and Canberra, and employs approximately 35 people with backgrounds in public policy, data analytics, economics and business. AlphaBeta Advisors has operations in Singapore which do not form part of this transaction; the Singaporean business is owned and managed separately and will continue to operate independently.
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: 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 evolving 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 to expand in its key markets around the world, 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; 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 might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; 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; 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 fees subject to the attainment of targets or specific service levels, which could increase the variability of the company’s revenues and impact its margins; 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: 02/27/2020 08:29 PM/DISC: 02/27/2020 08:29 PM