January 19, 2017
Accenture to Expand Its Aviation Capabilities with Acquisition of Seabury Group’s Corporate Advisory and Aviation Consulting Business
NEW YORK; Jan 19, 2017 – Accenture (NYSE: ACN) has entered into an agreement to acquire the corporate advisory and aviation consulting businesses of Seabury Group, a New York-based professional services firm focused on the aviation industry. The combination of Seabury’s corporate advisory and consulting businesses, together with Accenture’s global capabilities, will help the world’s leading airlines accelerate the pace of digital transformation.
“Airlines are having to innovate to respond to changing customer expectations, digital disruption and revenue and cost pressures,” said Jonathan Keane, managing director of Accenture’s Aviation practice. “The aviation expertise that Seabury will bring to Accenture will complement our global capabilities, solutions and services.”
Seabury’s corporate advisory practice focuses on restructuring distressed aviation companies through strategic planning and cost reduction. Seabury’s consulting practice focuses on fleet, network, commercial, maintenance, airports, cargo and human capital improvements.
“Seabury aims to deliver significant value to the airline industry through a combination of industry expertise, analytical techniques, data and proven tools,” said John Luth, CEO at Seabury. “Our combined business marks an important step for the aviation industry by bringing innovation enhancements to market with speed and agility. I am proud of what the team of professionals at Seabury have accomplished over the years in building and supporting the resiliency and growth of the global airline industry.”
The business acquired from Seabury will become part of Accenture’s global aviation practice. Approximately 120 employees will be joining Accenture, including Luth.
Sander van ‘t Noordende, group chief executive of Accenture’s Products operating group said, “With digital transformation forcing the aviation industry to rethink its business and operating models, we expect continued strong demand for consulting services in this industry. This acquisition will enhance our ability to accelerate the pace of transformation our clients need and to deliver the industry-specific strategies that our clients are increasingly seeking to drive competitiveness and differentiation.”
Seabury, headquartered in New York with offices in the United States, Europe and Asia, was founded in 1995.
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 394,000 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: the company and Seabury Group 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, 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 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 from security breaches or cyberattacks; the company’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 the company’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; the company’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; the company’s business could be materially adversely affected if the company incurs legal liability; the company’s work with government clients exposes the company to additional risks inherent in the government contracting environment; the company might not be successful at identifying, acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; the company’s Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose it to operational risks; 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; adverse changes to the company’s relationships with key alliance partners or in the business of its key alliance partners could adversely affect the company’s results of operations; 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; if the company is unable to protect its intellectual property rights from unauthorized use or infringement by third parties, its business could be adversely affected; the company’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if the company 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 the company makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; 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; 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.
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