Accenture Acquires T.A. Cook, Strengthening Asset Performance Management Capabilities for Clients in Capital-Intensive Industries

Rhea-AI Summary

Accenture (NYSE: ACN) has acquired T.A. Cook, a consultancy focused on asset performance management in capital-intensive industries. This acquisition aims to enhance Accenture's capabilities in asset performance and safety while reducing environmental impact and costs in sectors like chemicals and oil and gas. The financial terms remain undisclosed. T.A. Cook’s expertise in data-driven maintenance and capital projects will bolster Accenture's services, particularly in digital transformation across industrial operations.

Positive

• Strengthens asset performance management capabilities.
• Enhances service offerings in capital-intensive industries.
• Supports clients' digital transformation and operational efficiency.
• Bolsters Accenture's competitive position in targeted sectors.

Negative

• None.

BERLIN--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has acquired T.A. Cook, a consultancy specializing in asset performance management and capital projects for clients in capital-intensive industries and infrastructure. The acquisition will strengthen Accenture’s capabilities for improving asset performance, increasing safety, and reducing environmental impact and cost in the chemicals, life sciences, metals and mining, and oil and gas industries. Financial terms were not disclosed.

Accenture has acquired T.A. Cook, strengthening the asset performance management capabilities of its Industry X group (Photo: Business Wire)

T.A. Cook provides services in data-driven maintenance, operations and asset life cycle management including a proprietary as-a-service reliability solution. Its asset performance management capabilities, which have been repeatedly recognized by industry analysts, are designed to help companies increase profitability by lowering operating costs while boosting plant utilization. Its capital projects skills support clients looking to increase capacity and reduce cost through large investments in manufacturing plants and technology.

Founded in 1994, T.A. Cook is headquartered in Berlin, Germany, and has additional offices in Canada, Hong Kong and the United States. The company brings a team of 130 consultants, engineers, and development coaches. They will join Accenture’s Industry X group, strengthening its services for digitizing clients’ engineering functions, asset performance management, factory floors, project management office services and plant operations.

“To remain competitive in today’s environment, our clients are seeking to become more resilient, sustainable and profitable,” said Nigel Stacey, global lead for Accenture Industry X. “A powerful lever to achieve this is embedding intelligence in critical production assets. With T.A. Cook, we continue to grow our intelligent asset management capabilities that help clients automate processes, build predictive maintenance capabilities, reduce waste, increase utilization and, ultimately, redefine how they operate plants and factories for sustainable growth.”

Christina Raab, market unit lead for Accenture in Germany, Austria, Switzerland and Russia, added, “Asset-heavy companies need to drive efficiency, flexibility and safety to thrive at a time of growing economic, environmental and regulatory pressures. T.A. Cook’s digital track record, expertise and highly skilled team will enhance the solutions and capabilities that our clients require to transform their operations and boost growth.”

Frank Uwe Hess, co-founder of T.A. Cook, said, “We’re excited for the opportunity to scale our change management capabilities and utilize technological and process knowledge across Accenture’s global network, while expanding our combined digital manufacturing and operations offerings to even more clients.”

T.A. Cook is the latest in a series of 26 acquisitions Accenture has made since 2017 to build its Industry X capabilities. In October, it bought Advoco, a large US-based systems integrator for Hexagon’s Infor EAM solutions, which will scale Accenture’s capabilities for intelligent asset management solutions. Other recent 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. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; 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; 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 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 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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20211115005094/en/

Jens R. Derksen

Accenture Industry X

+49 175 5761393

jens.derksen@accenture.com

Yvonne Bernerth

Accenture

+49 6173 94 67561

yvonne.bernerth@accenture.com

Source: Accenture

FAQ

What is the purpose of Accenture's acquisition of T.A. Cook?

The acquisition aims to enhance Accenture’s capabilities in asset performance management and improve safety, environmental impact, and costs for clients in capital-intensive industries.

What industries will benefit from Accenture's acquisition of T.A. Cook?

Industries such as chemicals, life sciences, metals and mining, and oil and gas will benefit from enhanced asset performance management.

When did Accenture acquire T.A. Cook?

Accenture announced the acquisition of T.A. Cook on November 15, 2021.

How many acquisitions has Accenture made since 2017?

T.A. Cook is the 26th acquisition Accenture has made since 2017 to build its Industry X capabilities.

What expertise does T.A. Cook bring to Accenture?

T.A. Cook specializes in data-driven maintenance, asset life cycle management, and capital projects, which will strengthen Accenture's Industry X group.