March 01, 2017
Accenture Acquires Davies Consulting, Adding Strong Asset, Risk and Emergency Management Expertise for the Digital Electric and Gas Company of the Future
Team Will Support Grid and Pipeline Network Modernization, Resiliency and Security
NEW YORK; Mar. 1, 2017 – Accenture (NYSE: ACN) has acquired Davies Consulting, an innovative provider of utility asset management, risk management, grid and pipeline network modernization and emergency management services. Together, the organizations will continue to support utilities in their mission to deliver safe, reliable and affordable energy amid evolving customer demands, shareholder needs and other business issues.
Accenture’s utilities industry practice includes consulting and end-to-end digital asset management services, which complements Davies Consulting’s 25-year track record of innovation in utility operational risk management, asset investment and emergency preparedness and response. Together, the practices support utility clients as they optimize their operations and improve enterprise resiliency to hazards and threats.
“Our utilities business is already the industry leader in grid services,” said Tony Masella, managing director, who leads Accenture’s North America utilities practice. “Joining with Davies Consulting will further strengthen our ability to help utility clients manage energy delivery by integrating technology analytics and processes. Together, we will provide a full suite of asset management solutions to serve the rapidly evolving needs of the industry. As regulators focus more on asset failure prediction and prevention, in addition to managing the consequences of asset failures, now is the time for a more integrated approach to digital asset management solutions.”
The acquisition is the latest Accenture transaction in the utilities sector following its combination in 2015 with Structure, a leader in grid operations. Davies Consulting’s employees are part of the Digital Asset Management group in Accenture’s transmission and distribution practice.
“We look forward to joining forces with Davies Consulting to provide our clients with innovative asset management solutions and to create growth opportunities for our people,” said Bill Ernzen, managing director, who leads Accenture’s transmission and distribution practice in North America. “Davies Consulting brings a team of professionals with deep utility industry expertise that will complement and expand our capabilities and talent.”
Grant Davies, Davies Consulting’s founding partner, said, “Joining with Accenture will enable our team to do more of what we do best. Our team will continue supporting strong connections between our utility clients’ strategic business goals and day-to-day operational decision making. We’re excited to add Accenture’s end-to-end business and technology services to our toolbox, and we’re confident that our shared commitment to client service, delivery quality and industry specialization will continue to differentiate us in this market.”
Based in Chevy Chase, Maryland, Davies Consulting was founded in 1991. Since then, its team of more than 20 professionals has worked with numerous private and public utility clients, including more than 50 Fortune 500 companies.
Accenture (NYSE: ACN) 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.
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the company’s profitability could suffer if its cost-management strategies are unsuccessful, and the company may not be able to improve its profitability through improvements to cost-management to the degree it has done in the past; 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 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; changes in the company’s level of taxes, as well as audits, investigations and tax proceedings, or changes in the company’s treatment as an Irish company, could have a material adverse effect on the company’s results of operations and financial condition; 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; if the company is unable to collect its receivables or unbilled services, the company’s results of operations, financial condition and cash flows could be adversely affected; 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. 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