Accenture (NYSE: ACN) has agreed to acquire Ethica Consulting Group, a group of technology companies based in Italy that provides advanced software and professional services. The acquisition will strengthen Accenture’s capabilities in delivering digital transformation for clients and enabling them to develop innovative products and services using SAP® cloud-based solutions. Financial terms of the acquisition were not disclosed.

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Ethica Consulting Group to become part of Accenture (Graphic: Business Wire)

With headquarters in Treviso and several offices across Italy, Ethica Consulting Group is organized into three affiliate companies — ICM.S, Altevie Technologies and Espedia — each specialized in specific areas of SAP technology and recognized as an SAP Platinum Partner. Ethica Consulting Group helps companies reinvent their business processes by defining and implementing solutions using SAP technologies and has expertise in several industries including manufacturing, services and retail. Adopting these technologies can help companies increase operational efficiencies and provide a better customer experience.

“Bringing in Ethica’s talent and resources will allow us to further scale our SAP capabilities in Italy and help companies use technology to become more agile and productive,” said Alessandro Marin, Accenture Technology lead for Italy, Central Europe and Greece. “Ethica’s significant skills and experience complements our own technical and industry expertise and will be invaluable to our clients in Italy as they evolve and fully leverage the potential of cloud to become intelligent enterprises.”

“We continue to invest in Italy as a hub of innovation excellence, strengthening our ability to help companies accelerate their transformation journey. Ethica’s professionals will join a team where they can continue to unleash their ingenuity and talents and help shape the future of our clients’ businesses,” said Fabio Benasso, country managing director for Accenture Italy, Central Europe and Greece.

“We are seeing growing demand from companies for end-to-end technology solutions that scale innovation, support digital transformation and enable them to stay competitive,” said Ilio Sanguin, president and founder of Ethica Consulting Group. “Joining Accenture allows Ethica to combine its value and experience in SAP solutions for the Italian market with Accenture’s global capabilities and network. This will provide our people with opportunities for professional growth as well as the ability to deliver a wider range of services and skills to help clients realize the full value of their SAP investments.”

Ethica Consulting Group has successfully worked with clients for over 20 years, with a focus on mid-sized Italian businesses. The company’s approximately 400 SAP specialists will join the Accenture SAP Business Group in Italy to help meet accelerated demand for SAP’s cloud-based solutions locally and will benefit from access to Accenture’s global resources and skills.

Completion of the acquisition is subject to customary closing conditions. In February 2021, Accenture acquired Edenhouse, a UK-based independent SAP partner, to help UK-based companies unleash the full power of on-premise and cloud-based SAP solutions.

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 569,000 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

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. Many of the following risks, uncertainties and other factors identified below are, and will be, amplified by the COVID-19 pandemic. These risks include, without limitation, risks that: Accenture and Ethica Consulting 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 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. 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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