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ACCENTURE PLC

(ACN)
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Accenture : Acquires Openmind in Italy to Help Clients Reimagine Commerce Experiences

07/29/2021 | 04:30am EDT

Openmind's multi-channel solutions will enhance Accenture Interactive’s ability to deliver seamless, cloud-based commerce experiences at scale

Accenture (NYSE: ACN) has acquired Openmind, a boutique commerce agency in Italy with key capabilities in cloud-based platforms, to meet client demand in the rapidly growing commerce market and deliver transformative experiences.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210729005210/en/

Accenture acquires Openmind in Italy to help clients reimagine commerce experiences (Graphic: Business Wire)

Accenture acquires Openmind in Italy to help clients reimagine commerce experiences (Graphic: Business Wire)

Notably the first acquisition for Accenture Interactive in the country, Openmind boasts a multidisciplinary consulting approach in the areas of commerce, content, strategy, experience design and technology, which will enhance Accenture Interactive’s capabilities to deliver greater operational excellence to clients across all industry sectors, particularly luxury and fashion. Terms of the transaction were not disclosed.

Spurred by the pandemic, the Italian fashion industry has rapidly accelerated towards ecommerce and online sales and expects to see double-digit growth in the next three years1, resulting in the need for requisite skills to deliver data-driven, human-centric digital experiences across connected platforms and leading cloud technologies. The acquisition of Openmind will continue to scale Accenture Interactive’s commerce capabilities in the region, offering clients strategy and implementation of seamless commerce experiences on platforms including, Adobe, Salesforce and SAP along with helping meet clients’ ambitions for international expansion through Accenture’s global delivery network.

“We are delighted to welcome the Openmind team who will join us in our mission to drive greater impact and commerce efficiencies for our clients in Italy and around the world,” said Massimo Morielli, president of Europe for Accenture Interactive. “The pandemic accelerated the shift to buying things online in a major way and has opened up a world of opportunities to brands to transform the commerce experience. They cannot ignore the direction their customers are heading in and the deep experience of the Openmind team will ensure our clients have the tools needed to create these seamless experiences.”

Founded in 2004, Openmind, based in Monza, Italy, works with some of the world’s leading luxury and fashion brands and was recently named in the Financial Times’ FT 1000: Europe’s Fastest Growing Companies list. Approximately 110 employees from Openmind will join Accenture Interactive in Italy, bringing deep technical skills and a proven reputation with clients.

“The future cannot be predicted, but we can help build it," said Ivano Cauli, CEO of Openmind, “We are excited to join the Accenture Interactive team to help deliver superior commerce solutions by using the power of leading platforms to transform the commerce experience. We are thrilled to be able to further our mission through Accenture Interactive’s proven track record as a leader in the industry, which we are confident will drive success and growth for clients.”

Accenture Interactive’s commerce offering is centered on supporting clients design and implement transformative experiences for the consumer, offering expertise in emerging platforms and modern commerce architectures such as headless and composable commerce.

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

Accenture Interactive is reimagining business through experience. We drive sustainable growth by creating meaningful experiences that live at the intersection of purpose and innovation. By connecting deep human and business insights with the possibilities of technology, we design, build, communicate and run experiences that make lives easier, more productive and rewarding. Accenture Interactive is ranked the world’s largest digital agency by Ad Age and has been named a Most Innovative Company by Fast Company. To learn more, follow us @AccentureACTIVE and visit www.accentureinteractive.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: 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.

[1] Sources: Osservatorio PoliMi 2020

Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.


ę Business Wire 2021
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