Accenture Boosts Digital Platform Deployment Capabilities with Acquisition of Assets from ThinkTank

Rhea-AI Summary

Accenture (NYSE: ACN) is acquiring assets from ThinkTank, a Denver-based digital engagement technology firm. This acquisition, which involves ThinkTank's cloud-based stakeholder engagement platform, aims to enhance Accenture's Intelligent Platform Services. The Engage platform can lower implementation costs by 20%, accelerate design phases by 40%, and boost user adoption by 50%. The integration will streamline technology-led business transformations and improve collaboration.

Positive

• Acquisition strengthens Accenture's Intelligent Platform Services.
• ThinkTank's Engage platform can reduce implementation costs by 20%.
• Engage platform speeds design by 40% and increases user adoption by 50%.
• Integration with myConcerto enhances collaboration and automation capabilities.

Negative

• None.

Accenture (NYSE: ACN) announced that it is acquiring assets from ThinkTank, a Denver-based digital engagement technology company. ThinkTank’s cloud-based, intelligent stakeholder engagement platform assets and team will join Accenture’s Intelligent Platform Services group, strengthening Accenture’s capabilities and resources to help clients quickly and effectively deploy and adopt enterprise software applications. Terms of the transaction are not being disclosed.

ThinkTank is now part of Accenture (Graphic: Business Wire)

ThinkTank’s Engage platform is used to guide teams through complex planning and transformation programs with clear alignment and better decision-making. This evolves business transformation from a fragmented, risky process to a strategic priority for ensuring mission-critical projects are delivered on time, on budget, in-scope and are well-adopted. The Engage platform can reduce implementation costs by up to 20%, speed design phases by 40%, and increase rate of adoption by users by 50%.

The Engage platform will be integrated with Accenture myConcerto® for a single, proprietary platform that simplifies and accelerates technology-led business transformation. The new functionality will improve collaboration and workflow across teams, with better visibility into requirements, program progress and deadlines, enabling better engagement and prioritization. ThinkTank will also extend myConcerto’s intelligent automation capabilities and provisioning of industry-specific business process templates for agile, continuous delivery. Accenture myConcerto is currently available for multiple platform partners, including Adobe, Microsoft, Oracle, Salesforce, SAP and Workday.

“Intelligent platforms can generate new value by amplifying the power of data and technology. However, planning and design processes can be complex if all stakeholders aren’t engaged or collaborating on decisions,” said Emma McGuigan, global lead, Accenture Intelligent Platform Services. “ThinkTank Engage will be a natural extension of myConcerto, helping clients to better engage across stakeholder groups and digitize design and agile planning programs. The platform will empower clients to more easily create a personalized business case, roadmap and solution prototype, then integrating and automating processes for faster deployment and time to value.”

“After working with Accenture for years, we’re thrilled to be joining the company and helping change the way enterprises define, deliver, and maintain the strategic software that runs their business,” said Nick Parnaby, CEO, ThinkTank. “The ThinkTank Engage platform spurs better alignment and decision-making during complex enterprise business and technology transformations. Combining these capabilities with myConcerto and Accenture’s expertise, the result is a platform that seamlessly connects the people who define and operate essential business processes to the software that enables them, building truly agile enterprises.”

ThinkTank is a cloud-enabled SaaS business based in Denver, Colorado. The Accenture Intelligent Platform Services group works with leading platform providers to help clients leverage new platform technologies and ways of working to generate the most value.

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.

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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FAQ

What are the terms of Accenture's acquisition of ThinkTank?

The terms of the transaction have not been disclosed.

How will the ThinkTank Engage platform impact Accenture's services?

The Engage platform will enhance collaboration and accelerate technology-led business transformations.

When was the acquisition of ThinkTank announced by Accenture?

The acquisition was announced in May 2021.

What benefits does the ThinkTank Engage platform offer?

It can reduce implementation costs by 20%, speed design phases by 40%, and increase user adoption by 50%.

How does the acquisition align with Accenture's business strategy?

The acquisition aligns with Accenture's strategy to improve client engagement and streamline enterprise software deployment.