May 03, 2021
Accenture to Strengthen Oracle Capabilities in the Middle East with AppsPro Acquisition
RIYADH; May 3, 2021 – Accenture (NYSE: ACN) has entered into an agreement to acquire AppsPro in Saudi Arabia, one of the leading Oracle Cloud implementation service providers in the region. The acquisition further bolsters Accenture’s robust Oracle Cloud capabilities globally, with the aim of delivering additional value to clients in the Middle East on their journeys to the cloud. The financial terms of the acquisition were not disclosed.
Headquartered in Riyadh, Saudi Arabia, AppsPro is a Platinum Oracle Partner with extensive experience in both the public and private sectors in Saudi Arabia. AppsPro’s more than 240 professionals will join Accenture’s Oracle Business Group, combining Accenture and AppsPro’s deep industry knowledge in cloud and digital transformation to help Middle Eastern clients unlock greater value as they transform their businesses.
“Cloud technologies are a crucial stop on the digital transformation highway and businesses with a strong digital foundation are better able to scale, operate at speed, and outmaneuver uncertainty,” said David Deschamps, Accenture Technology lead in the Middle East. “Joining forces with AppsPro will expand our established global credentials across the Oracle Cloud portfolio, while helping our clients in the Middle East accelerate their path to value and emerge as leaders in the next waves of technology disruption.”
Abdulaziz Al-Salloum, CEO of AppsPro, added, “With Accenture’s in-depth capabilities and global scale, we are confident that AppsPro will reach new heights and deliver substantial value through cloud transformation to its clients.”
Accenture has unmatched global expertise across a full range of Oracle Solutions with thousands of Oracle-skilled consultants worldwide who help accelerate digital transformation by implementing Oracle-based business solutions and new business processes that develop and evolve as their digital business grows. Accenture has teamed with Oracle for over 30 years and is a Global Cloud Elite-level member in Oracle PartnerNetwork. For more information on the Accenture and Oracle relationship, visit www.accenture.com/oracle.
Completion of the acquisition is subject to customary closing conditions.
About Accenture
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.
Forward-Looking Statements
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These risks include, without limitation, risks that: Accenture and AppsPro 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 have been significantly adversely affected and could in the future be materially adversely impacted by the COVID-19 pandemic; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political 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 evolving 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; Accenture could face legal, reputational and financial risks if the company fails to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; 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 or fail to satisfy certain agreed-upon targets or specific service levels; 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 ability to attract and retain business and employees may depend on its reputation in the marketplace; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; 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’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; 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. 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Contact:
Theodore Halabi
Accenture
+971 50 662 7053
theodore.halabi@accenture.com