Accenture (NYSE: ACN) in Italy has entered into an agreement to acquire Turin-based boutique systems integrator PLM Systems. The acquisition will expand Accenture’s capabilities to help clients improve how they generate, manage and benefit from product data in design, engineering and manufacturing.
Founded in 1996, PLM Systems specializes in designing and building information systems for product lifecycle management. Its clients are Italian and international automotive, industrial equipment, fashion and aerospace and defense companies. Product lifecycle management systems help companies manage all relevant information about a product from its inception to its disposal. Companies can use them in engineering and other functions to innovate and manage new products.
The acquisition of PLM Systems will boost Accenture’s capabilities and presence in the market for digital engineering services. Its team will join Accenture Industry X.0 in Italy. This is the part of Accenture that uses digital technologies to continuously improve how industrial companies design, engineer and manufacture products and services and operate industrial facilities.
“Digital technologies like artificial intelligence are taking product lifecycle management to a new level. This offers industrial companies a huge opportunity to transform a core business function – engineering”, said Nigel Stacey, managing director and global lead of Accenture Industry X.0. “PLM Systems’ expertise and experience in product lifecycle management will allow us to help clients make the best use of their product data.”
“PLM Systems will be a cornerstone of progressing Accenture’s leadership in engineering digitization services,” said Mauro Marchiaro, managing director, Strategy & Consulting at Accenture in Italy. “We will combine our Industry X.0 capabilities with PLM Systems’ methodologies and solutions. This combination will allow us to make the industrial product development process more efficient and sustainable for our clients.”
“We’re excited to become part of Accenture,” said Alberto Codrino, CEO of PLM Systems. “Its client base and global footprint will offer our team new opportunities to expand their skills and we can develop even better technology solutions for clients to innovate and manage new products”.
The planned acquisition of PLM Systems is part of an overall growth strategy to expand critical skills and capabilities in strategic, high-growth areas. It is the fourth digital manufacturing advisory, services and solutions provider that Accenture has acquired recently. It is following Callisto Integration in Canada, Silveo in France and Enterprise System Partners in Ireland. Other recent acquisitions Accenture has made to strengthen its Industry X.0 business include German embedded software company ESR Labs, Dutch product design and innovation agency VanBerlo, U.S. product innovation and engineering company Nytec, and German strategic design consultancy designaffairs.
Completion of the acquisition is subject to customary closing conditions. Financial terms were not disclosed.
About Accenture
Accenture is a leading global professional services company, providing a broad range of services in strategy and consulting, interactive, technology and operations, with digital capabilities across all of these services. We combine unmatched experience and specialized capabilities across more than 40 industries — powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. With 509,000 people serving clients in more than 120 countries, Accenture brings continuous innovation to help clients improve their performance and create lasting value across their enterprises. Visit us at www.accenture.com.
Accenture Industry X.0 helps businesses master the digital reinvention of industry when they use advanced digital technologies to transform core operations and unlock new revenue streams and business models. We support every aspect of our clients’ multi-phase transformation, including workforce, customer experience, R&D, engineering, manufacturing, business support, and ecosystems. Visit https://www.accenture.com/us-en/services/industryx0-index.
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. For a discussion of risks and actions taken in response to the coronavirus (COVID-19) pandemic, see “Our results of operations have been adversely affected and could in the future be materially adversely impacted by the coronavirus pandemic (COVID-19)” under Item 1A, “Risk Factors” in Accenture plc’s Quarterly Report on Form 10-Q for the quarterly period ended February 29, 2020. Many of the following risks, uncertainties and other factors identified below are, and will be, amplified by the coronavirus pandemic (COVID-19). These risks include, without limitation, risks that: Accenture and PLM Systems 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 adversely affected and could in the future be materially adversely impacted by the coronavirus pandemic (COVID-19); Accenture’s results of operations could 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 breaches or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; 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 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; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; 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; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; 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 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; many of Accenture’s contracts include fees subject to the attainment of targets or specific service levels, which could increase the variability of the company’s revenues and impact its margins; 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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