Accenture (NYSE: ACN) has acquired BRIDGE Energy Group (BRIDGE), a
Boston-based consulting and systems integration firm that provides grid
modernization, analytics and security services to utilities in North
America. Terms of the transaction were not disclosed.
BRIDGE serves North American electric utilities, and its experience and
strong relationships with transmission and distribution leaders,
managers and subject matter experts bolsters Accenture’s portfolio of
end-to-end services for electric transmission and distribution service
providers.
“We are excited to welcome BRIDGE to Accenture to better help utilities
drive transformation by creating new efficiencies for assets and
operations while uncovering new revenue streams,” said Stephanie
Jamison, a managing director at Accenture who leads its Transmission and
Distribution business. “Similar to our 2015 acquisition of the Structure
Group, BRIDGE will help us meet growing demand from our utilities
clients for evaluating and applying new and emerging technologies,
including advanced analytics, artificial intelligence, the cloud and
blockchain, to develop the grid of the future.”
Utilities require new services and innovative thinking to better manage
industry pressures, including new regulations, an aging workforce,
extreme weather events and the proliferation of distributed energy
resources (DER) such as solar, wind power, storage and electric
vehicles. BRIDGE excels in helping clients develop, deploy and operate
solutions for these challenges, including real-time operations, DER
management, transmission renewables integration, grid analytics, and
grid security compliance.
“Joining forces with Accenture will provide the scale, career training,
ecosystem and other strengths that will further enable our employees to
leverage their strong industry skills to achieve even greater success in
serving clients and advancing their careers,” said Hugo van Nispen,
BRIDGE’s CEO. “It’s very exciting to jointly tackle our clients’ most
complex challenges through innovation, especially for grid
modernization, reliability and resiliency. I look forward to our clients
and our team benefiting from Accenture’s deep industry and technology
expertise and its end-to-end innovation capabilities.”
BRIDGE’s employees have joined the utilities practice of Accenture’s
Resources operating group.
Founded in 2004, BRIDGE has received multiple notable awards and
recognition for its accomplishments in the industry, including six-times
on Inc. magazine’s “Inc. 5000” list of the fastest-growing
American companies in 2010-2014 and 2016, Smart Grid Product of the Year
Award from SmartGrid,in 2015 and 2017 and Gold winner of the Global
Excellence Awards® in the New Products and Services category in 2018 by
Info Security Products Guide.
About Accenture
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 477,000 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.
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. These
include, without limitation, risks that: the transaction might not
achieve the anticipated benefits for Accenture; Accenture’s results of
operations could 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 changing 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 breaches or cyberattacks; the markets in
which Accenture operates are highly competitive, and Accenture might not
be able to compete effectively; 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
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; Accenture’s
results of operations could be materially adversely affected by
fluctuations in foreign currency exchange rates; as a result of
Accenture’s geographically diverse operations and its growth strategy to
continue geographic expansion, 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; 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’s ability to attract and retain business and
employees may depend on its reputation in the marketplace; 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 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; 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; many of Accenture’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; Accenture’s results of operations and share price could be
adversely affected if it is unable to maintain effective internal
controls; 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190603005202/en/