Accenture to Acquire Solnet to Expand Cloud First Capabilities in Aotearoa New Zealand

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Accenture (NYSE: ACN) has agreed to acquire Solnet, an IT services provider with deep technology consulting experience for New Zealand government and private organizations. The acquisition will bolster Accenture’s local cloud and infrastructure engineering offerings, helping clients accelerate their digital transformation. Solnet offers end-to-end consulting, solutions development, and managed services & operations, focusing on developing strategies and delivering the potential of new technologies. The acquisition is expected to drive productivity across private and public organizations in New Zealand, improving services and competitiveness in the global economy.

WELLINGTON, New Zealand--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has agreed to acquire Solnet, an IT services provider with deep technology consulting experience for New Zealand government and private organizations across multiple industries. Terms of the transaction were not disclosed.

Accenture has agreed to acquire Solnet, an IT services provider with deep technology consulting experience for New Zealand government and private organizations across multiple industries. (Photo: Business Wire)

With headquarters in Wellington, New Zealand, Solnet’s team of more than 100 technologists will join Accenture. Solnet’s services and solutions will bolster Accenture’s local cloud and infrastructure engineering offerings, helping clients tap into a full continuum of technical capabilities to accelerate their digital transformation.

“Cloud is the most powerful tool for organizations to scale rapidly and navigate change. Solnet brings its extensive experience and strong client relationships. Accenture brings vast global cloud, data and AI resources. This is a winning combination for New Zealand organizations to digitize faster and become more resilient,” said Andy Tay, global lead of Accenture Cloud First.

Solnet offers end-to-end consulting, solutions development and managed services & operations, which enable it to support long term engagements. Its advisory services focus on developing strategies and delivering the potential of new technologies. Solnet is also a local leader in intelligent automation, with solutions to help clients design, automate and optimize complex business processes.

Peter Burns, who leads Accenture’s business in Australia and New Zealand, said, “New digital technologies are driving productivity across private and public organizations, helping Aotearoa New Zealand to be more competitive in the global economy and improving the services offered to New Zealanders. Solnet has developed an impressive solution design and delivery skillset in this space, and they have a strong heritage of delivering large scale projects. Having the Solnet team join us brings more talented support for our clients to meet their growth objectives and modernize their technology systems for the future.”

Mark Botherway, managing director at Solnet, said, “For 20 years, we’ve built an impressive team of technically skilled and deeply experienced talent. Joining Accenture now gives our people global growth opportunities to broaden their exposure and career potential. We will continue to offer our clients the personalized experience, quality service and support they know and expect. Lastly, we look forward to growing with Accenture and continuing to accelerate critical business goals for our clients as we add global strength to our local roots.”

About Accenture

Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 733,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our 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,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: Accenture and Solnet 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, 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 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 their 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; 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 ecosystem 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; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in 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 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 © 2023 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231114235864/en/

Mylissa Tsai

Accenture

+1 617 488 7932

mylissa.tsai@accenture.com

Kate Maher

Accenture Australia

+61 405 778 205

kathryn.a.maher@accenture.com

Source: Accenture

FAQ

What is the acquisition agreement between Accenture and Solnet?

Accenture has agreed to acquire Solnet, an IT services provider with deep technology consulting experience for New Zealand government and private organizations.

What services does Solnet offer?

Solnet offers end-to-end consulting, solutions development, and managed services & operations, enabling it to support long term engagements. Its advisory services focus on developing strategies and delivering the potential of new technologies.

How will the acquisition benefit New Zealand organizations?

The acquisition is expected to drive productivity across private and public organizations in New Zealand, helping the country be more competitive in the global economy and improve the services offered to New Zealanders.