Accenture Announces Intent to Acquire Openminded, France-Based Cybersecurity Services Company
Accenture (NYSE: ACN) has announced its intent to acquire Openminded, a French cybersecurity services firm. While transaction terms remain undisclosed, the acquisition aims to enhance Accenture's cybersecurity capabilities in France and Europe. Openminded brings approximately 100 skilled cybersecurity professionals to Accenture's existing workforce of nearly 7,000 in Accenture Security. This move aligns with Accenture's strategy to bolster its market offerings amidst increasing cyber threats.
- Acquisition of Openminded enhances Accenture's cybersecurity capabilities in France and Europe.
- Brings approximately 100 skilled cybersecurity professionals to Accenture's workforce.
- Financial terms of the transaction are undisclosed, which may raise concerns about valuation.
- Acquisition is subject to customary closing conditions, posing potential delays.
Accenture (NYSE: ACN) has entered into an agreement to acquire Openminded, a France-based cybersecurity services company that provides advisory, cloud & infrastructure security, cyber defense, and managed security services. Financial terms of the transaction are not being disclosed.
Accenture to acquire Openminded (Graphic: Business Wire)
Founded in 2008, and powered by a security operations center, Openminded helps clients anticipate and reduce cybersecurity risks, rapidly detect and respond to cyber incidents, and implement best practices in regulatory compliance.
Once completed, the acquisition would bring approximately 100 highly skilled cybersecurity professionals to Accenture Security’s workforce of nearly 7,000 professionals globally and extend Accenture’s cybersecurity presence and capabilities in France and in Europe.
“With cyberattacks becoming more complex, constant and costly every day, companies must fully embed cybersecurity into the different layers of their organizations to ensure resilience,” said Kelly Bissell, who leads Accenture Security globally. “The acquisition of Openminded supports our commitment to leveraging technology and human ingenuity to help clients be confident and secure in the face of constant change. We look forward to welcoming Openminded’s team to Accenture and helping clients defend against cyber threats more effectively across their entire ecosystem—now and in the future.”
Olivier Girard, market unit lead for Accenture France and Benelux, said, “Our intent to acquire Openminded is aligned with our global strategy to provide differentiated robust services to our clients in their local markets. It would accelerate our growth in France and scale our cybersecurity capabilities within the market unit and across Europe. It underscores our commitment to helping clients manage the constantly changing cyber risk environment by bringing the right technology, industry understanding, and talent tailored to a company’s specific needs. We look forward to leveraging our combined expertise to help clients have the right controls in place to protect their critical assets.”
Hervé Rousseau, Openminded’s founder and CEO, said, “Joining forces with Accenture is a great opportunity for our teams and our clients. The alliance of our talent and capabilities perfectly leverages our expertise and would allow us to deliver on a global scale. Today, the fight against cyberattacks requires the implementation of the most advanced technologies, as well as the human resources to make them efficient. This is the synergy we are going to build and put at the service of our clients.”
Accenture became one of the leading global providers of managed security services as a result of its January 2020 acquisition of Symantec’s Cyber Security Services business. Accenture further strengthened its cyber defense capabilities through its acquisitions of Context Information Security and Revolutionary Security in March and April 2020, respectively, and of Real Protect in January 2021.
The acquisition requires prior consultation with the work council and would be subject to customary closing conditions.
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 537,000 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 Security is a leading provider of end-to-end cybersecurity services, including advanced cyber defense, applied cybersecurity solutions and managed security operations. We bring security innovation, coupled with global scale and a worldwide delivery capability through our network of Advanced Technology and Intelligent Operations centers. Helped by our team of highly skilled professionals, we enable clients to innovate safely, build cyber resilience and grow with confidence. Follow us @AccentureSecure on Twitter or visit us at www.accenture.com/security.
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: Accenture and Openminded will not be able to close the transaction in the time period anticipated, or at all, which is dependent on the parties’ ability to satisfy certain closing conditions; 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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