Accenture (NYSE: ACN) has entered into an agreement to acquire
Insight Sourcing, a provider of strategic sourcing and procurement
services. Insight Sourcing will broaden Accenture’s sourcing and
procurement services for private equity companies and the consumer
goods, retail, technology and industrial industries.
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Accenture has entered into an agreement
to acquire Insight Sourcing, a provider of strategic sourcing and
procurement services. (Photo: Business Wire)
Insight Sourcing helps its clients optimize costs when sourcing
and negotiating contracts for direct materials (e.g., metals,
electronics, food ingredients, chemicals, clinical services),
indirect materials (e.g., logistics, packaging, IT, marketing),
services related to capital expenditures (e.g., construction,
facility equipment) and energy procurement management.
The firm will strengthen Accenture with proven expertise in cost
takeout strategy powered by category and supplier market
intelligence. Insight Sourcing will add approximately 220 sourcing
consultants to Accenture’s Sourcing & Procurement practice
within its Supply Chain & Operations function. The acquisition
will include Insight Sourcing’s bespoke suite of more than 40
technology procurement tools to help clients capture value
faster.
Rob Fuhrmann, global lead for sourcing and procurement at
Accenture, said: “Accenture and Insight Sourcing will combine
expertise across direct, indirect and capital expense cost
reduction with complementary data and technology capabilities to
drive efficiency and resilience across our clients’ supply chains.
With Insight Sourcing, we are taking another important step to
position Accenture as a leading provider in sourcing and
procurement advisory and execution services for corporate and
private equity clients.”
With Insight Sourcing, Accenture will continue expanding its
capabilities for private equity clients. Insight Sourcing currently
serves more than 60 companies in this industry, including 10 of the
25 largest funds in North America. Accenture recently acquired two
additional sourcing and procurement services providers that support
private equity companies, New York-based advisory firm Impendi in
January and consultancy The Shelby Group last November.
“Insight Sourcing will be the latest investment we are making to
address growing demands from private equity investors, who seek
tailored and repeatable solutions that drive value,” said Muqsit
Ashraf, global lead for Accenture Strategy. “Combined with
Accenture’s proven expertise across strategy, advisory, technology
and managed services, Insight Sourcing will provide critical spend
and sourcing capabilities to our private equity clients and their
portfolio companies.”
Tom Beaty, founder and CEO of Insight Sourcing, said: “Joining
Accenture will accelerate our mission of bringing procurement
excellence to our clients. Over two decades, we have built a
skilled team of professionals who are passionate about being the
best in their craft and driving impactful results. As part of
Accenture’s sourcing and procurement strategy, we will reach new
levels of continued success with increased resources and
opportunities.”
Insight Sourcing is headquartered in Atlanta and was founded in
2002. The acquisition will include Insight Sourcing’s energy
procurement and management business, Insight Energy.
Terms of the transaction were not disclosed. Completion of the
acquisition is subject to customary closing conditions, including
receipt of regulatory approvals.
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 Insight Sourcing 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 743,000 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.
Copyright ©2024 Accenture. All rights reserved. Accenture and
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Jens Derksen Accenture +49 175 57 61393
jens.derksen@accenture.com Enxhi Myslymi Accenture +1 703 947 3595
enxhi.myslymi@accenture.com
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