Accenture to Expand Its Aviation Capabilities with Acquisition of Seabury Group’s Corporate Advisory & Aviation Consulting ...
January 19 2017 - 12:08PM
Business Wire
Accenture (NYSE: ACN) has entered into an agreement to acquire
the corporate advisory and aviation consulting businesses of
Seabury Group, a New York-based professional services firm focused
on the aviation industry. The combination of Seabury’s corporate
advisory and consulting businesses, together with Accenture’s
global capabilities, will help the world’s leading airlines
accelerate the pace of digital transformation.
“Airlines are having to innovate to respond to changing customer
expectations, digital disruption and revenue and cost pressures,”
said Jonathan Keane, managing director of Accenture’s Aviation
practice. “The aviation expertise that Seabury will bring to
Accenture will complement our global capabilities, solutions and
services.”
Seabury’s corporate advisory practice focuses on restructuring
distressed aviation companies through strategic planning and cost
reduction. Seabury’s consulting practice focuses on fleet,
network, commercial, maintenance, airports, cargo and human capital
improvements.
“Seabury aims to deliver significant value to the airline
industry through a combination of industry expertise, analytical
techniques, data and proven tools,” said John Luth, CEO at Seabury.
“Our combined business marks an important step for the aviation
industry by bringing innovation enhancements to market with speed
and agility. I am proud of what the team of professionals at
Seabury have accomplished over the years in building and supporting
the resiliency and growth of the global airline industry.”
The business acquired from Seabury will become part of
Accenture’s global aviation practice. Approximately 120 employees
will be joining Accenture, including Luth.
Sander van ‘t Noordende, group chief executive of Accenture’s
Products operating group said, “With digital transformation forcing
the aviation industry to rethink its business and operating models,
we expect continued strong demand for consulting services in this
industry. This acquisition will enhance our ability to accelerate
the pace of transformation our clients need and to deliver the
industry-specific strategies that our clients are increasingly
seeking to drive competitiveness and differentiation.”
Seabury, headquartered in New York with offices in the United
States, Europe and Asia, was founded in 1995.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world’s largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With more than 394,000
people serving clients in more than 120 countries, Accenture drives
innovation to improve the way the world works and lives. 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. These
include, without limitation, risks that: the company and Seabury
Group 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 the company; the
company’s results of operations could be adversely affected by
volatile, negative or uncertain economic conditions and the effects
of these conditions on the company’s clients’ businesses and levels
of business activity; the company’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 changing
technological environment could materially affect the company’s
results of operations; if the company 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; the markets in which the company
competes are highly competitive, and the company might not be able
to compete effectively; the company could have liability or the
company’s reputation could be damaged if the company fails to
protect client and/or company data from security breaches or
cyberattacks; the company’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; changes in the company’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; the company’s results of operations could be materially
adversely affected by fluctuations in foreign currency exchange
rates; the company’s business could be materially adversely
affected if the company incurs legal liability; the company’s work
with government clients exposes the company to additional risks
inherent in the government contracting environment; the company
might not be successful at identifying, acquiring, investing in or
integrating businesses, entering into joint ventures or divesting
businesses; the company’s Global Delivery Network is increasingly
concentrated in India and the Philippines, which may expose it to
operational risks; as a result of the company’s geographically
diverse operations and its growth strategy to continue geographic
expansion, the company is more susceptible to certain risks;
adverse changes to the company’s relationships with key alliance
partners or in the business of its key alliance partners could
adversely affect the company’s results of operations; the company’s
services or solutions could infringe upon the intellectual property
rights of others or the company might lose its ability to utilize
the intellectual property of others; if the company is unable to
protect its intellectual property rights from unauthorized use or
infringement by third parties, its business could be adversely
affected; the company’s ability to attract and retain business and
employees may depend on its reputation in the marketplace; if the
company is unable to manage the organizational challenges
associated with its size, the company might be unable to achieve
its business objectives; any changes to the estimates and
assumptions that the company makes in connection with the
preparation of its consolidated financial statements could
adversely affect its financial results; many of the company’s
contracts include payments that link some of its fees to the
attainment of performance or business targets and/or require the
company to meet specific service levels, which could increase the
variability of the company’s revenues and impact its margins; the
company’s results of operations and share price could be adversely
affected if it is unable to maintain effective internal controls;
the company 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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version on businesswire.com: http://www.businesswire.com/news/home/20170119005888/en/
AccentureCam Granstra, + 1
312-693-5992cameria.l.granstra@accenture.comorAccentureStefanie
Schumann, + 1-847-722-4144stefanie.l.schumann@accenture.com
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