Addition of specialist solutions for the retail, travel and transport, infrastructure and public sectors will benefit clients seeking to maximize ROI on data and AI investments.
Avanade, the leading digital innovator on the Microsoft ecosystem today announced its acquisition of Altius, a UK based company specializing in data performance management and artificial intelligence (AI) solutions. With additional offices in The Netherlands and India, and a team of 300+ cloud and data specialists, Altius brings industry expertise in solutions for the retail, travel and transport, infrastructure and public sectors. The financial terms of the transaction have not been disclosed.
AI continues to drive transformation across all industries as organizations look to build out cloud capabilities, develop new offerings, reach new audiences, develop additional revenue streams, and realize business efficiencies.
'Harnessing the power of data for business growth is a well-documented opportunity, so we're delighted that Altius will join us as together we continue to push the boundaries of what clients can achieve with data and AI,' said Andy Gillett, general manager for Avanade UK and Ireland.
The acquisition will bring Avanade additional depth of expertise in data platform, managed services and data visualization capabilities and enhance their ability to deliver AI at scale. Combining Altius' blend of in-depth technical knowledge and advanced architecture skills with Avanade's breadth of offerings and its close partnership with Microsoft will enable clients to realize the true value of their business data. In addition, Altius' expertise in enterprise performance management is a valuable addition to Avanade's technology capabilities.
'We are delighted to be joining Avanade and today's news truly supports the next phase of growth for our business,' said Simon Goldsmith, Altius CEO. 'We will continue to offer our clients the leading innovative data and AI solutions we are known for, while also extending our offerings to include more business solutions.'
Avanade is the leading provider of innovative digital and cloud services, business solutions and design-led experiences on the Microsoft ecosystem. Our professionals bring bold, fresh thinking combined with technology, business and industry expertise to help make a human impact on our clients, their customers and their employees. We are the power behind the Accenture Microsoft Business Group, helping companies to engage customers, empower employees, optimize operations and transform products, leveraging the Microsoft platform. Avanade has 38,000 professionals in 25 countries, bringing clients our best thinking through a collaborative culture that honors diversity and reflects the communities in which we operate. Majority owned by Accenture, Avanade was founded in 2000 by Accenture LLP and Microsoft Corporation. Learn more at www.avanade.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: Avanade and Altius 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 Avanade; Avanade'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; Avanade'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 Avanade 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; Avanade 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 Avanade operates are highly competitive, and Avanade might not be able to compete effectively; changes in Avanade'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; Avanade'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; Avanade's results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; as a result of Avanade's geographically diverse operations and its growth strategy to continue geographic expansion, the company is more susceptible to certain risks; Avanade's business could be materially adversely affected if the company incurs legal liability; if Avanade is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; if Avanade 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; Avanade's ability to attract and retain business and employees may depend on its reputation in the marketplace; Avanade might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; and if Avanade is unable to protect its intellectual property rights or if Avanade'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. Statements in this news release speak only as of the date they were made, and Avanade 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 Avanade's expectations.