Accenture Acquires Bionic to Help Brands Drive Customer Growth and Innovation
Accenture (NYSE: ACN) has acquired Bionic, enhancing its ability to drive customer growth through innovative approaches for large organizations. This acquisition will reinforce Accenture Interactive's capabilities in delivering experiential services and seizing market opportunities. Bionic, founded in 2013, employs a unique GrowthOS™ model designed to foster growth in Fortune 1000 companies. Both companies share a vision of empowering businesses to innovate and adapt to customer needs in a post-pandemic world.
- Strengthens Accenture Interactive's growth strategies through Bionic's entrepreneurial approach.
- Bionic's GrowthOS™ enhances Accenture’s existing capabilities, targeting new revenue streams.
- Provides a new experience-led approach for clients to adapt to fast-changing customer needs.
- None.
Accenture (NYSE: ACN) announced it has acquired Bionic to help clients ignite customer growth through an entrepreneurial approach designed for large organizations, enabling them to launch new products and businesses that fulfill unmet customer needs. The acquisition strengthens Accenture Interactive’s ability to help its clients drive growth by reimagining experiences and seizing new market and customer opportunities with less risk and more confidence.
Bionic is now part of Accenture (Photo: Business Wire)
Based in New York and founded in 2013, Bionic leverages its proven growth model, tools (GrowthOS™), and entrepreneurial mindsets to institutionalize growth across Fortune 1000 companies. Bionic is comprised of 40 entrepreneurs, growth investors, and designers who have helped leading businesses including P&G (Growth Works), Exelon and AB InBev’s ZX Ventures, among many others.
“We believe venture capital and entrepreneurship are forms of management and strategy that are incredibly relevant, but remain elusive, to big businesses as they seek growth and relevance post-pandemic,” said Baiju Shah, chief strategy officer, Accenture Interactive. “The ability to deeply understand and rapidly adapt to ever-changing customer needs is the battleground for brands today. In fact, eighty percent of CEOs acknowledge the need to reimagine their experiences to stay relevant to their customers. Bionic and Accenture Interactive will bring a new experience-led approach to customer growth, including a playbook for brands to build the organizational and operational muscles to innovate at pace.”
Bionic will join Accenture Interactive’s Growth and Business Design practice, which was established to meet client demand for a new approach to growth. The multidisciplined practice brings together designers, strategists, technologists, entrepreneurs, venture investors, change makers and innovators to help clients unlock new revenue streams and enable organizations to innovate at scale. Bionic’s proprietary GrowthOS™ will enhance Accenture Interactive’s existing capabilities to catapult growth for clients with a proven, customizable, scalable and repeatable solution.
“Brands today recognize, more than ever, that they’re in a battle for new sources of growth, but often lack the capability and poise to attack those opportunities,” said Pat Connolly, global Growth and Business Design practice lead, Accenture Interactive. “Many leaders know they need to adapt to meet fast-changing customer expectations, but face challenges making it happen. Bionic’s GrowthOS™, combined with Accenture Interactive’s full suite of capabilities and accelerators, will enable our clients to improve the success rates of new growth initiatives with less risk.”
“In order to catalyze growth, business leaders need to adopt, drive and scale new growth mindsets and systems, resulting in a culture of transformation and growth that is capable of adapting to disruption. Bionic’s success has been anchored in a venture-inspired approach that unlocks the potential of an organization through discovering new ideas, methodologies, and business models,” said David Kidder, co-founder, and CEO of Bionic. “Joining forces with Accenture Interactive will bring both speed and scale to our clients, moving them toward a new future of always-on innovation and growth.”
“Accenture Interactive and Bionic have a shared vision for empowering businesses to grow and thrive in an unpredictable world,” said Anne Berkowitch, co-founder, Bionic. “Bionic brings evidence-backed methodologies to enhance Accenture’s ability to scale new businesses and revenue streams for the world’s biggest brands. This combination in the market will catapult the value we can create for our clients, and we couldn’t be more excited to see what the future holds.”
Financial terms of the transaction are not being disclosed.
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 569,000 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 Interactive is reimagining business through experience. We drive sustainable growth by creating meaningful experiences that live at the intersection of purpose and innovation. By connecting deep human and business insights with the possibilities of technology, we design, build, communicate and run experiences that make lives easier, more productive and rewarding. Accenture Interactive is ranked the world’s largest digital agency by Ad Age and has been named a Most Innovative Company by Fast Company. To learn more, follow us @AccentureACTIVE and visit www.accentureinteractive.com.
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.
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