NEW YORK--(Business Wire)--
Accenture (NYSE: ACN) has entered into an agreement to acquire the
business of AddVal Technology Inc. (AddVal), a privately owned
provider of end-to-end shipment-management products and services to
global freight-management and airline-cargo companies. Based in
Cupertino, Calif., AddVal has a software development center in
Chennai, India.
The acquisition would provide Accenture with AddVal's
industry-leading technology platform for freight order management and
strengthen Accenture's Freight and Logistics practice, which provides
a wide variety of services to the global freight-management industry.
Specifically, the acquisition would enhance Accenture's ability to
help clients modernize their freight management services and
accelerate integration of the freight management systems with key
finance, business intelligence and other management systems. As part
of the acquisition, AddVal employees are expected to transition to
Accenture.
"This acquisition is a strategic fit for both Accenture and AddVal
and reflects our commitment to help our clients in the freight and
logistics industry become high-performance businesses," said Paul
Tournier, managing director of Accenture's Freight & Logistics
practice. "The combination of Accenture's services and solutions and
the unique technology platform AddVal has developed will help
companies in the broader freight management services industry achieve
operational efficiency and truly global integration faster and more
effectively than ever before."
Adriana Diener, AddVal's chief executive officer, said, "Joining
forces with Accenture will help us extend and deliver our tools and
capabilities to a broader market and enable us to offer clients a full
complement of consulting and technology services, industry knowledge
and expertise to help bring the industry to the next level."
The acquisition is subject to the satisfaction of customary
closing conditions and is expected to close within 45 days. Terms of
the agreement are not being disclosed.
About Accenture
Accenture is a global management consulting, technology services
and outsourcing company. Combining unparalleled experience,
comprehensive capabilities across all industries and business
functions, and extensive research on the world's most successful
companies, Accenture collaborates with clients to help them become
high-performance businesses and governments. With 178,000 people in 49
countries, the company generated net revenues of US$19.70 billion for
the fiscal year ended Aug. 31, 2007. Its home page is
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. 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: Accenture and Addval will not be able
to close the transaction in the time period anticipated, or at all,
which is dependent on the parties' ability to receive requisite
regulatory approvals and satisfy the closing conditions; the
transaction might not achieve the anticipated benefits for Accenture;
Accenture's results of operations could be negatively affected if
Accenture cannot expand and develop its services and solutions in
response to changes in technology and client demand; the consulting,
systems integration and technology and outsourcing markets are highly
competitive and we might not be able to compete effectively;
Accenture's results of operations could be affected by economic and
political conditions and the effects of these conditions on our
clients' businesses and levels of business activity; Accenture's work
with government clients exposes us to additional risks in the
government contracting environment; clients may not be satisfied with
our services; Accenture's business could be negatively affected by
legal liability that results from our providing solutions or services;
liabilities could arise if Accenture's subcontractors or other third
parties cannot deliver their project contributions on time or at all;
Accenture's results of operations could be adversely affected if
clients terminate their contracts with Accenture on short notice;
Accenture's outsourcing services subject it to operational and
financial risk; Accenture's results of operations may be adversely
affected by the type and level of technology spending by clients;
Accenture's profitability may suffer if Accenture is not able to
maintain favorable pricing rates and utilization rates, if Accenture
cannot control costs, or if Accenture cannot anticipate the cost and
complexity of performing Accenture's work; Accenture's global
operations are subject to complex risks, some of which might be beyond
Accenture's control; Accenture's growth and ability to compete may be
adversely affected if Accenture cannot attract, retain and motivate
employees or efficiently utilize their skills, including those
personnel currently employed by Addval; Accenture's business may be
adversely affected if it cannot manage the organizational challenges
associated with the size and expansion of Accenture; as well as the
risks, uncertainties and other factors discussed under the "Risk
Factors" heading in our most recent annual report on Form 10-K and
other documents filed with or furnished to the Securities and Exchange
Commission. Statements in this press 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.
Accenture
Benedict Payne, +44 20 7844 0440
benedict.j.payne@accenture.com
Copyright Business Wire 2008
