Accenture Completes Acquisition of Mudano, Enhancing Its Analytics & Data Transformation Services to Financial Services Firms...
February 28 2020 - 9:59AM
Business Wire
Accenture (NYSE:ACN) has completed its acquisition of Mudano, a
strategic data consultancy to U.K. financial services firms.
The acquisition enhances Accenture’s analytics, data and
artificial intelligence (AI) transformation capabilities. Terms of
the transaction were not disclosed.
Mudano’s team of industry-focused data professionals will join
Accenture Applied Intelligence. Mudano was founded in 2014 and is
headquartered in London, with a presence in Edinburgh,
Scotland.
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 505,000 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.
Applied Intelligence is Accenture’s approach to scaling AI for
our clients. We embed AI-powered data, analytics and automation
capabilities into business workflows to accelerate time to value.
Our expertise in defining end-to-end strategy, combined with deep
data infrastructure capabilities, cognitive services and
industrialized accelerators help smooth clients’ path to AI
adoption, extending human capabilities and supporting clients in
scaling AI responsibly. Recognized as a leader by industry
analysts, we collaborate with a powerful global alliance,
innovation and delivery network to help clients deploy and scale AI
within any market and industry. Follow @AccentureAI and visit
www.accenture.com/appliedintelligence.
About Mudano
Mudano is a data and machine learning business focused
exclusively on the financial services sector. Headquartered in
London, Mudano provides data solutions and consulting services to
help financial services firms transition to an AI-powered future.
Its unique combination of data expertise, AI research, industry
knowledge and market access keeps Mudano at the forefront of that
movement.
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 transaction might not
achieve the anticipated benefits for Accenture; 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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version on businesswire.com: https://www.businesswire.com/news/home/20200228005316/en/
Duncan Burford Accenture +44 7584 642492
duncan.burford@Accenture.com
Katy Rosati Accenture +1 917 452 6662
kathryn.rosati@accenture.com
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