Accenture Completes Acquisition of Google Cloud Services Boutique Wabion

Rhea-AI Summary

Accenture has successfully acquired Wabion, a specialized Google Cloud services provider based in Germany and Switzerland. This acquisition aims to enhance Accenture's capabilities in Google Cloud consulting and implementation, thereby strengthening its cloud-first strategy. Founded in 2004, Wabion is recognized as a Google Cloud Premier partner, boasting a team of over 60 professionals with extensive experience in cloud migrations and app development. The financial terms of the deal were not disclosed, but it marks a significant step in expanding Accenture's cloud service offerings.

Positive

• Acquisition of Wabion enhances Accenture's Google Cloud capabilities.
• Wabion's expertise in cloud migrations and Google Workspace deployments can drive revenue growth.
• Integrating Wabion's skilled workforce bolsters Accenture's service offerings.

Negative

• No financial terms disclosed, raising concerns about the acquisition's immediate cost implications.
• Potential integration challenges may arise with the addition of Wabion's operations.

ESSLINGEN, Germany & OLTEN, Switzerland--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has completed the acquisition of Wabion, a Google Cloud services boutique with headquarters in Esslingen, Germany and Olten, Switzerland as well as additional offices in Munich, Cologne and Lausanne. Terms of the transaction, which Accenture announced on July 14, were not disclosed.

Wabion is now part of Accenture (Photo: Business Wire)

As a Google Cloud services provider, Wabion offers a full spectrum of consulting and implementation services for Google Cloud Platform and Google Workspace solution, including integration, development, licensing, and training. Founded in 2004, Wabion has worked with established companies and digital natives on their cloud migrations, on cloud native app development to build new cloud-based solutions and on Google Workspace deployments for online collaboration and workforce productivity.

Wabion is a Google Cloud Premier partner and well-recognized for its deep expertise of Google Cloud innovations and technological developments. The team of more than 60 professionals will join Accenture’s Google Cloud Business Group, part of Accenture Cloud First.

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 569,000 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.

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/20210901005870/en/

Lea Treese

Accenture

+49 6173 94 61641

lea.treese@accenture.com

Mylissa Tsai

Accenture

+1 917 452 9729

mylissa.tsai@accenture.com

Source: Accenture

FAQ

What is the purpose of Accenture's acquisition of Wabion?

The acquisition aims to enhance Accenture's capabilities in Google Cloud consulting and implementation, strengthening its cloud-first strategies.

When was the acquisition of Wabion by Accenture announced?

The acquisition was announced on July 14.

What impact will Wabion have on Accenture's business?

Wabion's expertise in cloud services is expected to drive revenue growth and expand Accenture's service offerings.

How many professionals are joining Accenture from Wabion?

Over 60 professionals from Wabion will join Accenture's Google Cloud Business Group.