June 01, 2017
Accenture to Acquire LabAnswer, Expanding Its Life Sciences and Cross-Industry Research and Laboratory Informatics Capabilities
Following acquisition, Accenture to establish Accenture Scientific Informatics Services
Following acquisition, Accenture to establish Accenture Scientific Informatics Services
NEW YORK; June 1, 2017 – Accenture (NYSE: ACN) has agreed to acquire LabAnswer, a leading U.S.-based research and laboratory informatics technology consulting firm. Terms of the acquisition were not disclosed.
By combining LabAnswer’s industry knowledge and experience in scientific and laboratory informatics with Accenture’s consulting expertise, industry platforms, innovation capabilities and global scale, the acquisition will enhance Accenture’s ability to apply digital technologies to revolutionize scientific and laboratory processes across a variety of industries.
Following the acquisition, Accenture will establish Accenture Scientific Informatics Services, which will combine the capabilities and resources acquired through LabAnswer with Accenture’s existing R&D informatics capabilities. Leveraging digital technologies such as automation, artificial intelligence, analytics and cloud, in combination with a fundamental redesign of the scientific user experience, Accenture Scientific Informatics Services will help life sciences companies better capture, manage, integrate and analyze complex research data that can lead to the identification of new and more effective treatments for patients.
“New technologies are transforming the life sciences industry by offering entirely new ways to understand human biology and identify new treatments to improve patient outcomes,” said Kevin Julian, who leads Accenture’s Life Sciences practice in North America. “This acquisition is part of our strategy to be a leading provider of scientific and laboratory consulting and technology services to a variety of innovation-based industries. By connecting these services to our existing capabilities, we will be able to help our clients improve their end-to-end R&D efficiency and decision-making.”
Brad Michel, a managing director in Accenture’s Life Sciences practice and lead for Accenture Scientific Informatics Services said, “LabAnswer is a market leader, trusted advisor, and innovator known for creating advanced solutions at the intersection of science and technology. This acquisition will enable us to expand our capabilities and provide consulting services that simplify research processes and deliver transformative and scalable solutions to clients.”
A privately held company with approximately 250 employees, LabAnswer is based in Sugar Land, Texas. It serves clients in several industries in addition to life sciences, including consumer goods, resources, chemicals, energy and government. LabAnswer’s services support scientific and laboratory functions in the research, quality and manufacturing functions of many of its clients.
“By becoming part of Accenture Scientific Informatics Services, we are excited to be able to offer an enhanced range of market-leading services that transform our clients’ operations by streamlining processes from early-stage research through development to manufacturing and quality control,” said Mark Everding, CEO of LabAnswer. “Becoming part of Accenture will also give us the opportunity to expand our US-focused business to a global client base.”
This acquisition is the latest step in Accenture’s commitment to help its life sciences clients make a meaningful impact on patients’ lives by combining new science with leading-edge technology to revolutionize the research function and how medical treatments are discovered, developed and delivered to people around the world.
LabAnswer is a leading informatics consultancy specialized exclusively in providing independent insights for the design, build, deployment, externalization and ongoing support of enterprise scientific data solutions. Headquartered in Sugar Land TX, LabAnswer serves a broad base of leading organizations across many industries.
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 approximately 401,000 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.
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: Accenture and LabAnswer will not be able to close the transaction in the time period anticipated, or at all, which is dependent on the parties’ ability to satisfy certain closing conditions; 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. 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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