NEW YORK; May 18, 2010 -- Accenture (NYSE:ACN) has entered into an agreement to acquire assets from CadenceQuest, Inc., a privately-held Arlington, Va.-based company that specializes in customer data and analytics for the retail sector.
The proposed acquisition of the retail sector software assets of CadenceQuest, Inc. would expand the suite of digital, marketing analytics, retail marketing and merchandising solutions and platforms offered by Accenture Interactive, which was launched in September 2009. Accenture Interactive helps companies develop industry-leading digital marketing capabilities, enhance the development and management of their websites and online marketing, and optimize their online and offline marketing investments to more effectively interact with and influence the behavior of targeted consumer segments.
The CadenceQuest deal also is intended to help Accenture Interactive achieve its vision of becoming the premier provider of marketing technology and related services in its field.
CadenceQuest’s Customer Insight software platform is a self-service analytical platform that allows retail decision makers to perform analyses on high-targeted customer segments, which enables them to gain deep insight about their customers and their behaviors. CadenceQuest’s capabilities, in combination with Accenture Interactive data mining, analytics and business intelligence capabilities, would enhance the delivery of on-demand, real-time customer insights that can be used to support the development and execution of customer loyalty, merchandising and marketplace strategies.
For instance, one retail customer has deployed a CadenceQuest solution that can deliver actionable, real-time business intelligence to its merchants, marketers and vendors about its more than 50 million rewards customers, enabling them to more effectively target the right promotion to the right customer at the right time to create a lift in sales. The solution also extended the retailer’s ability to deliver real-time customer insights to its manufacturing partners through an insights portal. More than 50 major manufacturers, representing more than 250 leading national brands, use this data to gain competitive advantage.
By combining CadenceQuest’s marketing, consulting and technology delivery capabilities with Accenture’s global infrastructure, Accenture Interactive plans to market the CadenceQuest Customer Insight solution to retailers and traditionally non-retail companies that migrate to a “retailization” model*. Additionally, with these capabilities, Accenture Interactive expects to be able to help companies create more precisely targeted marketing messages that respond to customer needs and support merchandising activities.
“CadenceQuest’s Customer Insight software platform and its delivery capabilities combined with Accenture Interactive’s predictive demand analytics and industry-leading digital search and intelligent web solutions will deliver a comprehensive consumer-centric marketing capability that is otherwise unavailable in the customer insights and loyalty industry,” said Tim Breene, Accenture senior managing director of strategic initiatives and chief executive of Accenture Interactive. “Bringing these assets into the Accenture Interactive fold will expand our services and help our clients develop a clearer understanding of their customers’ preferences by applying the advanced marketing analytics capabilities that are the linchpin to a company’s ability to satisfy customers and grow their business.”
CadenceQuest is an established provider of retail marketing analytics services in North America. Following the acquisition, Accenture Interactive will expand the reach of these services into new geographies, beginning in Asia, the U.K. and continental Europe.
The acquisition is subject to customary closing conditions, and is expected to close within 30 days.
Accenture Interactive is a global assets-based business within Accenture that guides companies on the journey toward agile, intelligent marketing. Its services cover all aspects of digital consulting, marketing analytics, and media management. Accenture Interactive’s methodologies and assets enable closer interaction between the marketing and technology functions, driving both organizations toward a common end goal: customer relevance. More information about Accenture Interactive can be found at www.accenture.com/accentureinteractive
*Retailization is the morphing of businesses of any kind with traditional retail practices to reinvent themselves as a “retailer” and operating in new ways. Businesses across such diverse industries as banking and hospitality are realizing the tremendous power of being very close to the consumer, and are pursuing the drive for customer intimacy. These leaders are taking the mindset and approach of a retailer in the way they engage with their customers and provide an experience.
Accenture is a global management consulting, technology services and outsourcing company, with more than 181,000 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$21.58 billion for the fiscal year ended Aug. 31, 2009. Its home page is www.accenture.com
CadenceQuest, Inc. is a leading management and IT consultancy that helps commercial organizations make smarter decisions by more effectively managing and accessing their data. The company focuses its clients on key aspects of their organizations – people, processes and technology – through an approach that merges industry domain, process and technical expertise. Their home page is http://www.cadencequest.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. 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 CadenceQuest 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 business could be negatively affected if the company cannot expand and develop its services and solutions in response to changes in technology and client demand; the management consulting, interactive and analytics and technology markets are highly competitive and Accenture might not be able to compete effectively; Accenture’s business could be negatively affected by economic and political conditions and the effects of these conditions on its clients’ business and levels of business activity; clients may not be satisfied with Accenture’s services; Accenture could have liability or its reputation could be damaged if it does not protect client data or information systems or if its information systems are breached; Accenture’s business could be negatively affected by legal liability that results from providing its solutions or services; Accenture’s results could be adversely affected if its clients terminate their contracts with the company; liabilities could arise if subcontractors or other third parties with whom the company partners cannot deliver their project contributions on time or at all; Accenture’s results of operations may be adversely affected by the rate of growth in the use of technology in business and the type and level of technology spending by its clients; Accenture’s profitability may suffer if it is not able to maintain favorable pricing rates and utilization rates or if the company cannot control costs; Accenture’s global operations are subject to complex risks, some of which might be beyond its control; Accenture’s business may be adversely affected if it is unable to keep its supply of skills, including those personnel currently employed by CadenceQuest, and resources in balance with client demand; Accenture may be unable to achieve its business objectives if the company cannot manage the organizational challenges associated with the scope of its operations; Accenture has only a limited ability to protect its intellectual property rights, and its services or solutions could infringe on the rights of others or it could lose its ability to use the intellectual property of others; Accenture’s ability to attract or retain business may depend on the company’s reputation in the marketplace; Accenture Interactive has a limited ability to set its own independent strategies, and its business strategy and direction may be dictated by Accenture’s overall business strategy; the loss of the global delivery network would increase Accenture’s operating expenses;
Statements in this press 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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