March 29, 2021
Accenture to Acquire Cygni to Help Clients Accelerate Cloud First Strategies With Software Engineering Services
STOCKHOLM, Sweden; Mar. 29, 2021 – Accenture (NYSE: ACN) has entered into an agreement to acquire Cygni, a cloud native full-stack development firm that helps companies transform their business through advanced technical software development services and innovative technical solutions. Terms of the transaction were not disclosed.
With experience across multiple industry sectors – from communications to utilities — and in digital-led projects for the national government, Cygni helps some of the country’s most recognized brands to transform digitally. Cygni will further enhance the global capabilities of Accenture Cloud First. Cygni has approximately 190 developers who provide a range of IT consulting and implementation services across the complete technology stack, including serverless and cloud.
Cygni was founded in 2006 and has been recognized by ’The Great Place To Work Foundation’ as the best workplace in Europe five times as well as the best workplace in Sweden for seven consecutive years.
“Today, there is no business leadership without technology leadership. Companies who use technology to master change will define the future,” said Karthik Narain, global lead of Accenture Cloud First. “Having Cygni’s talented team join Accenture Cloud First strengthens our ability to help clients use the cloud and technology innovation to act faster, operate sustainably, and deliver exceptional new experiences. Our new Cygni colleagues bring key skills to help clients master change in an era of compressed transformation.”
Left to Right: Joel Hofgren, Cloud Infrastructure & Engineering lead at Accenture togetherJon Persson, CEO and founder at Cygni, said, “Ever since Cygni was founded, we have had the vision to be the best place to work for highly skilled and ambitious software developers, which has been the foundation of our success. Now, it is time for the next chapter in our history. By joining Accenture, our people will get the opportunity to continue to grow even more as an integral part of Accenture Cloud First. Solving huge and challenging problems for local and global clients will create even more opportunities for our people to build their skills and experience.”
with Jon Persson, CEO and founder of Cygni
with Jon Persson, CEO and founder of Cygni
Joel Hofgren, Cloud Infrastructure & Engineering lead at Accenture Sweden, said, “We are delighted to welcome the Cygni team as they bring deep technical skills as well as a strong people culture. Modern software development capabilities are critical to unleashing the transformational power of cloud and adding the exceptional talents of the Cygni team will help propel us forward in realizing our Cloud First ambitions. We look forward to continue to build the best place to work together.”
With headquarters in Stockholm, Cygni has offices across Sweden including Gothenburg, Linkoping, Malmoe, Lulea and Ostersund, as well as an office in Amsterdam, Netherlands.
Accenture recently announced the creation of Accenture Cloud First, a new multi-service group of 70,000 cloud professionals, and a $3 billion investment over three years to rapidly expand its cloud service capabilities and offerings. Accenture Cloud First integrates the company’s wide-ranging cloud expertise to help clients across every industry accelerate their digital transformation and realize greater value at speed and scale by rapidly becoming "cloud-first" businesses.
Completion of the acquisition is subject to customary closing conditions.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services – all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. 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. 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