Accenture Acquires Canadian Capital Projects Consulting Company Comtech Group

Rhea-AI Summary

Accenture has acquired Comtech Group, a consulting and program management company for infrastructure projects in Canada and the United States. This acquisition will expand Accenture's capital projects capabilities in North America and Canada. Comtech Group brings expertise in construction management, facility and manufacturing engineering, and process control automation. Accenture aims to help clients deliver large infrastructure projects on time and on budget.

Positive

• Accenture has acquired Comtech Group, expanding its capital projects capabilities in North America and Canada.
• Comtech Group brings expertise in construction management, facility and manufacturing engineering, and process control automation.
• Accenture aims to help clients deliver large infrastructure projects on time and on budget.

Negative

• None.

Continues to expand its large infrastructure project capabilities in North America

NEW YORK & TORONTO--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has acquired Comtech Group, a consulting and program management company for infrastructure projects in Canada and the United States. Terms of the deal were not disclosed.

Accenture has acquired Comtech Group, a consulting and program management company for infrastructure projects in Canada and the United States.

Comtech Group was founded in 1994 and is headquartered in Toronto. Its clients are transportation, infrastructure, industrial manufacturing, building, and power and utility companies in the public and private sector. Comtech Group helps them deliver large, long-term infrastructure projects, such as urban transportation, automotive manufacturing processes, renewable and nuclear power, and building rehabilitation. The firm’s approx. 300 people bring a mix of consulting and project management expertise in construction management, facility and manufacturing engineering, and process control automation. Comtech Group has offices in Canada and the United States.

The move follows Accenture’s recent acquisition of Anser Advisory, a leading advisory and management company for infrastructure projects in the United States, which has bolstered Accenture’s capital projects capabilities in North America.

With Comtech Group, Accenture is now expanding its capital projects capabilities in Canada. These capabilities include project structuring, estimating and planning; digitization; monitoring the work being done; and assisting clients in managing and executing all phases of projects. Accenture also helps clients develop smarter, more efficient infrastructure for energy transition, transportation and production from the outset. Like Anser Advisory, Comtech Group joins Accenture’s digital engineering and manufacturing service, Industry X.

Aaron Saint, North America lead for Industry X at Accenture, said: “With Comtech Group, we will help our clients deliver mission-critical infrastructure projects on time and on budget. This requires industry expertise, ‘boots on the ground’ know-how, and increasingly, artificial intelligence (AI) and other digital capabilities to better plan, measure and monitor how these projects are executed. By combining Accenture and Comtech Group capabilities, we can better help deliver on our clients’ ambitious infrastructure programs.”

David Morgenstern, president of Accenture in Canada, commented: “We are expanding our capabilities at a time that Canada is committing to major infrastructure projects. Our country has deep roots in manufacturing, process and engineering industries. We are also home to leading organizations in AI, automation and robotics. Comtech Group will enhance our ability to bring value and productivity to clients in this evolving landscape.”

Hugo Blasutta, president and CEO of Comtech Group, said: “Comtech Group has an established track record supporting some of Canada’s most complex, large-scale infrastructure programs. As part of Accenture, we can deliver our proven solutions to even more clients in more industries. We are excited about Accenture’s commitment to innovation as shown in its recent $3 billion investment in AI. Joining this world-leading organization will also offer exciting new opportunities to our people.”

Other acquisitions Accenture has made to support its clients’ infrastructure projects include Eclipse Automation, a provider of customized manufacturing automation and robotics solutions headquartered in Cambridge, Canada; Advoco, a US-based asset management services provider; ATI Solutions Group, an Australian consulting service provider to the mining, energy and rail industries; and umlaut, a global engineering services provider, headquartered in Germany.

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: 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 733,000 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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View source version on businesswire.com: https://www.businesswire.com/news/home/20231026024812/en/

Stephanie Malcolm

Accenture

+1 416 641-3214

stephanie.malcolm@accenture.com

Jens Derksen

Accenture

+49 175 57 61393

jens.derksen@accenture.com

Source: Accenture

FAQ

What is Comtech Group?

Comtech Group is a consulting and program management company for infrastructure projects in Canada and the United States.

What are the capabilities that Comtech Group brings to Accenture?

Comtech Group brings expertise in construction management, facility and manufacturing engineering, and process control automation.

What are Accenture's goals with this acquisition?

Accenture aims to help clients deliver large infrastructure projects on time and on budget.