January 15, 2021
Accenture Acquires Wolox, Boosting Cloud First and Digital Transformation Capabilities in Argentina and South America
BUENOS AIRES; Jan. 15, 2021 – Accenture (NYSE: ACN) has acquired Wolox, a leading Argentinean cloud native and agile development company that provides digital solutions to help clients achieve successful business outcomes.
Founded in 2012, Wolox’s team of more than 280 professionals specializes in integrated services that include digital business design, product creation and agile squads.
Agustina Fainguersh, founder and CEO of Wolox, and Sergio Kaufman, president of Accenture Argentina
“The acquisition of Wolox brings differentiated skills to Accenture, as the team uniquely blends cloud native development with design and state-of-the-art technologies for business transformation,” said Karthik Narain, global lead for Accenture Cloud First. “Wolox has multidisciplinary teams of industry and business experts, UX/UI designers, software designers, architects and engineers and, together, we’re now more equipped to help clients tap into the technology expertise and human ingenuity that powers how Accenture innovates.”
The addition of the Wolox team enhances the global capabilities of Accenture Cloud First, a multi-service group providing a full stack of cloud services to help clients across every industry accelerate their digital transformation, innovate faster, and create differentiated, sustainable value. Powered by 70,000 cloud professionals, and a $3 billion investment over the next three years, the group brings together an unmatched depth and breadth of cloud expertise, industry cloud solutions, ecosystem partner capabilities, and assets that help clients realize greater value from cloud at speed and scale.
“By pairing Accenture’s global expertise with Wolox’s regional talent and capabilities, this acquisition strengthens our ability to help clients accelerate business transformation using cloud technologies and deliver measurable business value,” said Sergio Kaufman, president of Accenture Argentina and Hispanic South America. We will integrate Wolox across Accenture’s services, including Strategy & Consulting, Interactive, Technology and Operations, enabling us to deliver 360 degree value for our clients, people, shareholders, partners and communities.”
Agustina Fainguersch, Wolox founder and CEO, said, “Since 2012, Wolox has focused on transforming industries through technology. By joining Accenture, we will be able to continue doing so, furthering our reach and impact in a more robust manner. The combination of Accenture and Wolox is a great opportunity for our teams and clients. This is our moment to help clients solve their most pressing challenges by leveraging the cloud and cutting-edge technologies.”
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 514,000 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.
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. Many of the following risks, uncertainties and other factors identified below are, and will be, amplified by the COVID-19 pandemic. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; Accenture’s results of operations have been significantly adversely affected and could in the future be materially adversely impacted by the COVID-19 pandemic; Accenture’s results of operations have been, and may in the future 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 incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; 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 or fail to satisfy certain agreed-upon targets or specific service levels; 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 ability to attract and retain business and employees may depend on its reputation in the marketplace; 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; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; 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; 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, Quarterly Report on Form 10-Q 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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