Accenture to Enhance Digital and Marketing Capabilities with Acquisition of Fjord
NEW YORK; May 7, 2013 – Accenture (NYSE: ACN) today announced it has agreed to acquire Fjord – a global service design consultancy that specializes in creating digital experiences and services that engage consumers across platforms including smart devices, tablets and PCs. The acquisition will expand the digital and marketing capabilities Accenture offers its clients, allowing chief marketing officers (CMOs) and digital leaders to create distinctive customer experiences and bring them to market with speed. Terms of the transaction were not disclosed.
Fjord’s design capabilities will complement the business strategy, data analytics, technology and marketing operations services offered through Accenture Interactive. The acquisition will also give clients access to Fjord’s deep mobility capabilities, to provide a full range of offerings designed to accelerate the conception, development and scaling of digital services and experiences across multiple devices and platforms.
“In order to capitalize on the disruptions being created by digital, and to sustain engagement with consumers, our clients need new services and experiences that are powered by technology, analytics, mobility, and scalable marketing operations,” said Brian Whipple, global managing director of Accenture Interactive. “Together Accenture Interactive and Fjord will offer a rich blend of skills and expertise, helping clients to deliver innovative experiences and deeper engagement across platforms in ways that bridge marketing, commerce, and service interactions.”
Founded in 2001, Fjord’s service design-led approach shapes digital experiences that work across multiple devices and interactions to create emotional connections with users. Fjord is known for its deep expertise in designing for mobile platforms, and for creating services that fit with new behaviors and expectations driven by technology. Working across industries including entertainment, finance, telecom, travel, and retail, Fjord partners with clients such as the BBC, BBVA, Citibank, Harvard Medical School, Nokia, PayPal, Qualcomm, and Telefónica, among others.
Olof Schybergson, CEO of Fjord said, "I’m incredibly proud of the team we’ve built at Fjord. For the last 12 years, we've championed the value of design and its ability to transform industries and create meaningful experiences for people. The services that we design with our clients are setting new benchmarks for digital innovation. It’s rewarding that Accenture Interactive – one of the global leaders in the digital economy – has recognized our talent, and is now investing in it. Together we'll be able to envision and bring to market the kind of magic that very few organizations globally could aim to match.”
“Marketing and digital executives are key buyers of our services, and Fjord marks our continued strategic investment in digital and marketing to better serve our clients,” added Whipple. In October of 2012, Accenture announced the acquisition of avVenta, a provider of digital production services.
Fjord is a privately held company with more than 200 employees. It is headquartered in London with offices in Berlin, Helsinki, Istanbul, Madrid, New York, Paris, San Francisco and Stockholm.
Completion of the acquisition is subject to customary closing conditions.
Accenture is a global management consulting, technology services and outsourcing company, with approximately 261,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its home page is www.accenture.com.
Accenture Interactive helps the world’s leading brands drive superior marketing performance across the full multichannel customer experience. Working with over 4,000 Accenture professionals dedicated to serving the marketing function, Accenture Interactive offers integrated, industrialized and industry-driven marketing solutions and services across consulting, technology and outsourcing powered by analytics. Follow @AccentureSocial or visit Accenture Interactive.
Fjord is a service design consultancy. The company creates useful, effective and desirable digital services that people love. Fjord works with innovation leaders to design breakthrough experiences that make complex systems simple and elegant. Founded in 2001, Fjord employs a diverse group of over 200 design experts in nine global creative hubs including Berlin, Helsinki, Istanbul, London, Madrid, New York, Paris, San Francisco, and Stockholm. Clients include the BBC, BBVA, Citibank, Harvard Medical School, Nokia, PayPal, Qualcomm, and Telefónica, among others.
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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 company and Fjord 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 the company; the company’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; the company’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions, and a significant reduction in such demand could materially affect the company’s results of operations; if the company 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 the company competes are highly competitive, and the company might not be able to compete effectively; the company could have liability or the company’s reputation could be damaged if the company fails to protect client and/or company data or information systems as obligated by law or contract or if the company’s information systems are breached; 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; the company’s Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose it to operational risks; the company’s results of operations could materially suffer if the company is not able to obtain sufficient pricing to enable it to meet its profitability expectations; if the company’s pricing estimates do not accurately anticipate the cost, risk and complexity of the company performing its work or third parties upon whom it relies do not meet their commitments, then the company’s contracts could have delivery inefficiencies and be unprofitable; the company’s work with government clients exposes the company to additional risks inherent in the government contracting environment; the company’s business could be materially adversely affected if the company incurs legal liability in connection with providing its services and solutions; the company’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; the company’s results of operations and ability to grow could be materially negatively affected if the company cannot adapt and expand its services and solutions in response to ongoing changes in technology and offerings by new entrants; the company’s alliance relationships may not be successful or may change, which could adversely affect the company’s results of operations; outsourcing services and the continued expansion of the company’s other services and solutions into new areas subject the company to different operational risks than its consulting and systems integration services; 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; the company has only a limited ability to protect its intellectual property rights, which are important to the company’s success; the company’s ability to attract and retain business and employees may depend on its reputation in the marketplace; the company might not be successful at identifying, acquiring or integrating businesses or entering into joint ventures; 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; 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; changes in the company’s level of taxes, and 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; if the company is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; 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 share price and results of operations could fluctuate and be difficult to predict; 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. 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.