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Accenture (NYSE: ACN) has acquired Solvera Solutions, a Regina-based provider of digital transformation services in Western Canada. Founded in 2005, Solvera employs over 450 professionals specializing in ServiceNow, Microsoft, and SAP platforms. This acquisition enhances Accenture's capabilities across British Columbia, Alberta, Saskatchewan, and Manitoba. The deal aims to improve client support and service delivery through advanced cloud technologies and local expertise, driving further growth in the region.
Positive
Expansion of digital transformation capabilities in Western Canada.
Strengthened offerings in ServiceNow, Microsoft, and SAP platforms.
Access to a skilled workforce of over 450 professionals.
Negative
None.
TORONTO--(BUSINESS WIRE)--
Accenture (NYSE: ACN) has acquired Solvera Solutions, a Regina-based company delivering platform-led digital transformation services across Western Canada. Financial terms of the transaction were not disclosed.
Accenture has acquired Solvera Solutions, a Regina-based company delivering platform-led digital transformation services across Western Canada. (Graphic: Business Wire)
Founded in 2005, Solvera Solutions has a team of more than 450 professionals with deep consulting and managed service capabilities across ServiceNow, Microsoft and SAP platforms. Solvera Solutions serves clients in the public sector, health, financial services, utilities and energy, and agriculture industries, and will be a catalyst for Accenture’s continued growth in British Columbia, Alberta, Saskatchewan, and Manitoba.
“Adding Solvera Solutions’ digital transformation capabilities across ServiceNow, Microsoft and SAP, along with their local market and industry expertise, means we are even better positioned to support our clients across Western Canada,” said Jeffrey Russell, president of Accenture in Canada. “Clients across industries will benefit as we help them take advantage of the cloud and enhanced service delivery capabilities to transform their service and customer operations, ultimately driving greater business value from their investments in leading platform technologies.”
Solvera Solutions brings extensive experience on the ServiceNow platform; expands Accenture’s current offerings on the Microsoft Modern Workplace and Microsoft Power Platform; and enhances capabilities and resources in SAP S/4HANA.
Robert Vokes, managing director and financial services lead for Accenture in Canada, added, “Solvera Solutions is a deeply respected and high performing digital transformation specialist with a talented team that is committed to the communities it serves, making it a great addition to Accenture. Solvera Solutions expands our presence across the West, driving value and growth for our platform offerings in this key geographic region.”
Reg Robinson, CEO and co-founder at Solvera Solutions, said, “The rate of digital adoption has accelerated in recent years and we’re committed to staying at the forefront of service delivery. Joining Accenture allows us to offer clients an even greater suite of resources and expertise through Accenture’s network of professionals across Canada and globally, while providing our people with a wealth of new career growth opportunities.”
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, Technology and Operations services and Accenture Song — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 710,000 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 accenture.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. 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, including the invasion of Ukraine by Russia, the related sanctions and other measures that have been and continue to be imposed in response to this conflict, as well as the current inflationary environment, and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; 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 match people and 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; the COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; 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 alliance 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; 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; 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; 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’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; 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.
What is the strategic importance of Accenture's acquisition of Solvera Solutions?
The acquisition enhances Accenture's digital transformation services and strengthens its presence in key markets in Western Canada, facilitating better client support and service delivery.
How will the acquisition of Solvera Solutions affect Accenture's growth?
It is expected to drive growth by expanding service capabilities and leveraging local market expertise in cloud technologies across the region.
What are the platforms that Solvera Solutions specializes in?
Solvera Solutions specializes in ServiceNow, Microsoft, and SAP platforms, which will enhance Accenture's existing service offerings.
