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Accenture plc (NYSE: ACN) is a global professional services company headquartered in Dublin, Ireland. With reported revenues of $61.6 billion in 2022, this Fortune Global 500 company specializes in information technology services and consulting. Accenture employs nearly 500,000 professionals across 200 cities in 51 countries, delivering a wide range of services including strategy, consulting, technology, and operations.
The company's core services encompass digital transformation, procurement, and software system integration. Accenture's diverse client base spans various sectors such as communications, media, technology, financial services, health and public services, consumer products, and resources. Recent accomplishments include the launch of a new federal health portfolio following the acquisition of Cognosante, which will enhance mission-driven solutions for federal health agencies.
Accenture is also focused on sustainable business practices. It recently acquired Partners in Performance, a strategy firm specializing in asset-intensive industries, to bolster its capabilities in data and AI. In the semiconductor industry, Accenture expanded its digital engineering services by acquiring Teamexpat, further cementing its leadership in technology-driven solutions.
Through innovative ventures like its partnership with Kraken Technologies, Accenture helps utilities modernize and enhance customer energy management, exemplified by its collaboration with EDF in the UK. The company's federal services arm, Accenture Federal Services, continues to support U.S. government agencies, evidenced by a contract with the TSA valued at up to $170 million to deliver agile technology solutions.
Accenture is committed to driving customer-centric transformations using advanced technologies. Collaborations with leading brands like Bath & Body Works and MI New York underline its ability to leverage AI and digital tools to enhance customer experiences and operational efficiency. By constantly evolving its service offerings and embracing cutting-edge technologies, Accenture remains a pivotal force in the professional services landscape, creating value for clients, shareholders, and communities worldwide.
A recent study by Accenture reveals that companies with advanced supply chains are 23% more profitable than their peers. These leading firms are six times more likely to implement AI and generative AI across their supply chains, resulting in significant additional business value. The report, which analyzed 1,148 companies across 15 countries and 10 industries, found that 'Leaders'—the top 10%—achieved 23% higher margins and 15% better shareholder returns between 2019 and 2023, compared to their peers.
Leaders invest heavily in advanced technologies to enhance supply chain efficiency, agility, sustainability, and resilience. Despite these gains, the report highlights a widespread lack of supply chain maturity, with an average score of just 36%. This score varies significantly by country and industry, indicating a pressing need for many companies to adopt modern technologies to stay competitive.
Accenture (NYSE: ACN) has acquired Excelmax Technologies, a semiconductor design services provider based in Bangalore, India. This acquisition aims to bolster Accenture’s silicon design and engineering capabilities, aligning with the tech industry's increasing demand for silicon solutions driven by AI, edge computing, and data centers. Excelmax, founded in 2019, provides comprehensive semiconductor solutions across various stages from design to manufacturing and full turnkey execution. The company adds about 450 professionals to Accenture, enhancing its ability to innovate in sectors such as automotive, telecommunications, and high-tech industries. Financial terms of the deal were not disclosed.
Accenture (NYSE: ACN) has finalized the acquisition of OPENSTREAM HOLDINGS, along with its subsidiaries, Open Stream and Neutral, enhancing its digital and cloud capabilities. Announced initially on May 17, 2024, this acquisition adds around 1,000 cloud and digital experts to Accenture's team. These experts will bolster Accenture’s ability to support clients in system modernization and adopting cloud, data, AI, and IoT technologies. Additionally, the acquisition strengthens Accenture’s client portfolio and automation solutions across the entire product value chain, covering procurement, manufacturing, logistics, and after-sales service.
Accenture (NYSE: ACN) reported its third-quarter fiscal 2024 results, revealing new bookings of $21.1 billion, up 22% in U.S. dollars and 26% in local currency. Revenues were $16.5 billion, slightly down by 1% in U.S. dollars but up by 1.4% in local currency. GAAP operating margin increased to 16.0%, and GAAP EPS decreased by 3% to $3.04. Adjusted EPS similarly decreased by 2% to $3.13.
Generative AI bookings reached $900 million, totaling $2 billion year-to-date. Despite the overall revenue decrease, managed services saw a 2% increase in U.S. dollars and 4% in local currency. Consulting revenues were down by 3% in U.S. dollars and 1% in local currency.
Accenture's business outlook for fiscal 2024 expects revenue growth between 1.5% and 2.5% in local currency with adjusted EPS forecasted between $11.85 and $12.00.
Accenture (NYSE: ACN) has announced plans to acquire Fibermind, an Italy-based network services company specializing in fiber and mobile 5G networks. This acquisition aims to enhance Accenture's capabilities in network services across various industries, including telecommunications, utilities, and transportation. Fibermind brings over 20 years of experience, a strong partner ecosystem, and long-standing relationships with national authorities and municipalities in Italy. The acquisition will integrate more than 400 highly qualified professionals into Accenture’s operations, enhancing their expertise in network engineering services. The deal, subject to customary closing conditions including antitrust clearances, complements Accenture's previous acquisitions in Europe focused on 5G and fiber infrastructure.
L3Harris Technologies (NYSE:LHX) has entered into a strategic collaboration with Accenture (NYSE:ACN) to accelerate its technological transformation under the 'LHX NeXt' initiative. The partnership will focus on building a robust digital core, optimizing operations, and fostering future growth.
Key aspects include leveraging Accenture’s expertise in cloud, infrastructure, and application services to enhance agility and scalability. Some L3Harris IT professionals will transition to Accenture, gaining industry-specific training and new technological skills.
Benefits of the collaboration include improved cost management, enhanced customer service through innovative software and systems, and enriched employee experiences with new enterprise resources and tools.
Accenture (NYSE: ACN) has announced key leadership appointments to drive long-term growth and strategic reinvention in the AI era. Angie Park will become CFO on December 1, 2024, succeeding KC McClure, who retires after 36 years. Mauro Macchi will take over as CEO for EMEA on September 1, 2024, following Jean-Marc Ollagnier. Angela Beatty will be the new Chief Leadership and HR Officer starting September 1, 2024, replacing Ellyn Shook. Karthik Narain and Bhaskar Ghosh will assume additional responsibilities, becoming Group Chief Executive, Technology, and Chief Technology Officer, and Chief Strategy and Innovation Officer, respectively. Atsushi Egawa and Ryoji Sekido will be co-CEOs of Asia Pacific, with Sekido joining the Global Management Committee. These changes are part of Accenture's strategy to adapt its Growth Model across three markets: the Americas, EMEA, and Asia Pacific.
Accenture (NYSE: ACN) has finalized the acquisition of SOKO, a prominent Brazilian creative agency. The acquisition, initially announced on May 2, 2024, integrates about 300 employees into Droga5 São Paulo, part of Accenture Song.
The move strengthens Accenture's creative and brand capabilities in Brazil and Latin America. SOKO co-CEOs Felipe Simi and Brisa Vicente are appointed as CEO and co-CEO, respectively, with former partner Felipe Belinky becoming the Chief Operating Officer.
SOKO is noted for its innovative brand storytelling and ranks among Brazil's top three advertising agencies. It has earned recognition in major international award shows and aims to boost Droga5's mission of delivering globally impactful creativity.
Accenture Federal Services has secured a Blanket Purchase Agreement with a ceiling value of $170 million from the Transportation Security Administration (TSA) to provide Flexible Agile Scalable Teams (FAST) support services. This agreement aims to enhance TSA's Security Operations (SO) across multiple modes of transportation within the U.S. and globally. The initiative will focus on implementing Agile design, development, testing, and maintenance capabilities to improve TSA's existing applications and introduce mobile and cloud technologies. The contract spans five years, reinforcing Accenture’s long-term support of TSA programs, including Vetting and Credentialing Systems and the modernization of the Secure Flight prescreening program.
Bath & Body Works (NYSE: BBWI) has announced a multi-year collaboration with Accenture (NYSE: ACN) to modernize and transform its digital and technology platforms. This initiative aims to elevate the brand, utilizing the latest in digital, MarTech, AI, and generative AI to drive growth. The collaboration will introduce innovative capabilities like a digital Fragrance Finder, powered by gen AI, to personalize customer experiences. Accenture’s research suggests that companies leveraging gen AI for customer initiatives can achieve 25% higher revenue growth over five years. The partnership focuses on enhancing customer experiences, operational efficiency, and brand engagement.
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