Accenture Acquires Advoco, Scaling Capabilities for Intelligent Asset Management Solutions

Rhea-AI Summary

Accenture (NYSE: ACN) has acquired Advoco, a significant player in systems integration for Infor EAM, enhancing its capabilities in enterprise asset management. This acquisition will allow Accenture to better support clients across various industries, including consumer goods, industrial, and life sciences, in enhancing operational efficiency and sustainability. Advoco, recognized as Infor EAM Partner of the Year, will bolster Accenture's Industry X group, specifically in intelligent asset management solutions. The terms of the deal remain undisclosed.

Positive

• Strategic acquisition of Advoco enhances Accenture's capabilities in enterprise asset management.
• Strengthens Accenture's position in supporting diverse industries with operational efficiency.
• Advoco's expertise and recognition in the field will benefit Accenture's service offerings.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has acquired Advoco, one of the largest systems integrators for Infor EAM, a leading software-as-a-service suite for enterprise asset management (EAM). The acquisition expands Accenture’s capabilities to help clients in the consumer goods & services, industrial, life sciences, transit and other industries make their operations and supply chains safer, more sustainable, productive and cost-efficient. Terms of the acquisition were not disclosed.

Accenture has acquired Advoco, one of the largest systems integrators for Infor EAM, to scale its capabilities for intelligent asset management solutions (Graphic: Business Wire)

Advoco’s mission is to form trusted advisor partnerships with clients across industries. It specializes in configuring and integrating Infor EAM software with companies’ existing enterprise and operational systems, and EAM training programs. The solutions and services Advoco provides are designed to help clients enhance the reliability and extend the overall lifecycle of their critical assets.

Founded in 2002, Advoco has been repeatedly named Infor EAM Partner of the Year. Most of its over 100 asset management professionals are based in Greenville, SC, close to the Infor EAM product development team. Accenture plans to establish Advoco’s Greenville office as a center of excellence for Infor EAM delivery, industry use cases and intelligent asset management.

The entire Advoco team joins Accenture’s Industry X group in the United States, strengthening its suite of services for digitizing clients’ engineering and maintenance functions, factory floors and plant operations.

“Many of our clients are looking to leverage Infor EAM when embedding more intelligence in their asset management to drive the performance of their most critical assets,” said Nigel Stacey, global lead for Accenture Industry X. “Advoco is highly respected for its talent, expertise and training program in this space. Together, we will bring Infor EAM capabilities to clients at scale to take advantage of a growing market opportunity.”

Marty Osborn, partner at Advoco, said: “Becoming part of the Accenture Industry X family is an incredible opportunity for our clients and our employees. Accenture’s capabilities and expertise enable us to bring more cutting-edge, innovative work to our clients and grow as a team and as individuals. We’re excited to deliver outstanding expertise in the design, consultation and implementation of Infor EAM to even more companies and markets.”

Advoco is the latest in a series of 24 acquisitions Accenture has made since 2017 to build its Industry X capabilities. Recently completed acquisitions include international engineering consulting and services firm umlaut, operations technology provider Electro 80 (Australia), industrial robotics and automation services provider Pollux (Brazil), operations consultancy Myrtle (US) and technology consultancy SALT Solutions (Germany).

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, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 624,000 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 www.accenture.com.

Accenture Industry X embeds intelligence in how clients run factories and plants, as well as design and engineer connected products and services—making manufacturing and operations more efficient, effective and safe; enabling companies to transform how they make things, and the things they make, for sustainable growth.

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. Many of the following risks, uncertainties and other factors identified below are, and will be, amplified by the COVID-19 pandemic. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been significantly adversely affected and could in the future be materially adversely impacted by the COVID-19 pandemic; 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 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 incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; 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 ability to attract and retain business and employees may depend on its reputation in the marketplace; 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; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; 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; 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.

Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

This document makes descriptive reference to trademarks that may be owned by others. The use of such trademarks herein is not an assertion of ownership of such trademarks by Accenture and is not intended to represent or imply the existence of an association between Accenture and the lawful owners of such trademarks. No sponsorship, endorsement, or approval of this content by the owners of such trademarks is intended, expressed, or implied.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005031/en/

Jens R. Derksen

Accenture

+49 175 5761393

jens.derksen@accenture.com

Aimee Ertley

Accenture

+1 678 657 5515

aimee.ertley@accenture.com

Source: Accenture

FAQ

What does Accenture's acquisition of Advoco entail?

Accenture acquired Advoco to enhance its enterprise asset management capabilities, particularly for Infor EAM, benefiting various industries.

How will the acquisition of Advoco impact Accenture's services?

The acquisition will strengthen Accenture's Industry X group, enhancing services related to intelligent asset management.

What is the significance of Advoco in the market?

Advoco is recognized as a leading systems integrator for Infor EAM, known for its expertise and training in asset management.

When was the acquisition of Advoco by Accenture announced?

The acquisition was announced on October 5, 2021.

What industries will benefit from Accenture's acquisition of Advoco?

Industries such as consumer goods, industrial, life sciences, and transit will benefit from enhanced operational efficiency.