August 03, 2017
Accenture Acquires Search Technologies to Expand Its Content Analytics and Enterprise Search Capabilities
- Expanded capabilities will help clients power machine learning solutions, unlock new intelligence from unstructured data.
- Nearly 200 big data engineers and search experts to join Accenture Analytics
NEW YORK; Aug. 3, 2017 – Accenture (NYSE: ACN) has acquired Search Technologies, a Herndon, Virginia-based technology services firm specializing in the design, implementation and management of big data and search analytics. Search Technologies delivers enhanced content analytics capabilities that help clients better understand their business, customers and markets through the combination of transactional and contextual data. By applying artificial intelligence (AI) technologies like machine learning to this type of client data, Accenture can help generate new, more precise insights that drive improved business outcomes. Terms of the transaction were not disclosed.
Search Technologies joins the existing community of data scientists and engineers within Accenture Analytics and will focus on developing and industrializing solutions that make unstructured content – from social media to video to voice and audio – easily searchable to support data discovery, analytics and large-scale reporting. Search Technologies employs nearly 200 big data engineers and search experts from locations across the United States, Costa Rica, Europe and the Philippines.
Search Technologies is now part of Accenture Analytics, coming together to build more intelligent businesses“With the addition of Search Technologies’ capabilities, we are in an even stronger position to help organizations take advantage of their data, regardless of format, to generate more precise and actionable insights,” said Narendra Mulani, chief analytics officer, Accenture Analytics. “By better understanding the context and sentiment behind transactions, organizations can deliver better customer experiences and business outcomes. Combining Search Technologies’ data engineering expertise with Accenture’s data science, analytics and AI capabilities enhances our ability to help clients become data-native, intelligent enterprises, transforming the way they innovate, compete and grow.”
Search Technologies’ proprietary Content Processing Framework and collection of API-level data connectors – which enable access to unstructured enterprise data across disparate and legacy systems – will be integrated into the Accenture Insights Platform (AIP). This will help clients embed analytics and AI into their business to generate new intelligence at speed and scale.
Kamran Khan, president and CEO of Search Technologies, will lead a new Content Analytics team within Accenture Analytics. Khan commented: “Both search and big data analytics require a deep understanding of the nature of structured and unstructured content, and the know-how to extract knowledge and business value from the data. We have done this successfully for over 800 customers in industries including e-commerce, publishing, media, financial services, professional staffing and manufacturing. Search Technologies’ vision is very closely aligned with Accenture’s, and this acquisition will help us play a major role in building the future of big data, enterprise search and AI as we integrate our capabilities onto AIP and leverage the scale of Accenture to globalize our offerings.”
As part of the acquisition, a new delivery center will be established in Costa Rica for the 70+ Search Technologies big data engineers based there. Specializing in customer and content analytics, the team will work closely with the Accenture Interactive digital content production and marketing services team to offer clients complementary services and holistic content offerings, as they seek to deal with the explosion of content across multiple channels. The new location will become part of the Accenture Global Delivery Network.
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 411,000 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.
Accenture Analytics, part of Accenture Digital, helps clients harness the power of new data, data science and technology to unlock value and drive transformation. Recognized as a leader by industry analysts, the company helps clients embed analytics into the fabric of their business to create new intelligence using AI, Machine Learning, proprietary algorithms and app-based solutions, all powered by the Accenture Insights Platform. We collaborate with a powerful alliance and delivery network to help clients operationalize within any market and industry with a focus on speed to value. Combining expertise across industries, analytics, technology and design, Accenture is uniquely qualified to drive new business outcomes with precision, at scale. For more information, follow us @ISpeakAnalytics and visit www.accenture.com/analytics.
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 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 changing 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; the markets in which Accenture competes are highly competitive, and Accenture might not be able to compete effectively; Accenture could have liability or Accenture’s reputation could be damaged if the company fails to protect client and/or company data from security breaches or cyberattacks; 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; 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 results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; 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 might not be successful at identifying, acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose it to operational risks; as a result of Accenture’s geographically diverse operations and its growth strategy to continue geographic expansion, the company is more susceptible to certain risks; adverse changes to Accenture’s relationships with key alliance partners or in the business of its key alliance partners could adversely affect the company’s results of operations; Accenture’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 Accenture is unable to protect its intellectual property rights from unauthorized use or infringement by third parties, its business could be adversely affected; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture 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 Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; many of Accenture’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; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; 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. 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