Accenture Acquires Pragsis Bidoop, Boosting AI Capabilities, Big Data Portfolio and Talent

Accenture Acquires Pragsis Bidoop, Boosting AI Capabilities, Big Data Portfolio and Talent

MADRID--(BUSINESS WIRE)--Sep 10, 2019--

Accenture (NYSE:ACN) has acquired Pragsis Bidoop, a Spanish company with strong expertise in big data, AI and advanced analytics. Pragsis Bidoop, headquartered in Madrid with additional offices in Barcelona and the U.K., will add more than 200 employees with deep machine learning, artificial intelligence and big data engineering experience, along with its portfolio of end-to-end solutions, to Accenture’s Applied Intelligence business. Integrating Pragsis Bidoop’s capabilities will further enhance how Accenture Applied Intelligence serves the European and Latin American markets by helping enterprise clients scale their deployments of AI, analytics and automation to make data-driven decisions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190910005130/en/

Juan Pedro Moreno, country managing director for Spain, Portugal and Israel at Accenture (left) and Pedro Agudo, CEO and co-founder of Pragsis Bidoop (right) (Photo: Business Wire)

Founded in 2004, Pragsis Bidoop stands out in the Spanish big data and AI market, with a diversified client base of Ibex-35 companies in Spain and multinational corporations with a presence in Mexico, Brazil and other Latin America markets. The company specializes in service provisioning for corporations in a range of industries, from banking and insurance to retail, energy, railway, public sector and pharma. Pragsis Bidoop also delivers innovative data solutions for what Accenture calls Industry X.0, the digital reinvention of industry. These include big data and AI solutions for digital twins (digital models of a physical objects, systems or processes), machine learning to optimize manufacturing processes, and advanced predictive models to reduce, for example, supply chain forecasting errors, lost sales and maintenance costs.

“Accenture Applied Intelligence is experiencing strong demand and we are laser-focused on equipping our teams with the right blend of talent and technical skills to guide clients on their AI journey,” said Athina Kanioura, chief analytics officer and global lead for Applied Intelligence at Accenture. “As we continue to grow the business, the Pragsis Bidoop team will play a critical role in the European market and beyond.”

“Accenture combines true end-to-end analytics, data and AI services with deep industry expertise. With the addition of Pragsis Bidoop, we will multiply our specialized talent in big data, data engineering and Artificial Intelligence skills. This further enhances our position as a market leader, helping clients in the next phases of the data driven transformation journey, where intelligent big data solutions at global scale in real time are needed, beyond the traditional proofs of concept or isolated data lakes,” said Juan Pedro Moreno, country managing director for Spain, Portugal and Israel at Accenture.

Pedro Agudo, CEO and co-founder of Pragsis Bidoop, said, “We are delighted to bring together an outstanding team with unique capabilities, experience and passion. By joining Accenture, we can help change de game in the AI and big data solutions space, helping our clients to really leverage the new era of artificial intelligence as a key opportunity to boost their business.”

Accenture Applied Intelligence employs more than 20,000 professionals, working to help clients scale AI, including 6,000 data scientists, data engineers and AI professionals worldwide. It has received several recognitions from leading industry analyst firms in the past six months, including being named a worldwide leader in AI vendor services by IDC and ranking first in Google AI services by HfS.

Financial terms of the acquisition were not disclosed.

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 482,000 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.

Accenture Applied Intelligence, part of Accenture Digital, applies artificial intelligence and human ingenuity at the core of business to help clients solve their most complex business problems. By deploying AI responsibly and combining it with our deep industry and analytics expertise, we enable the digital transformation of organizations, extend human capabilities, and make intelligent products and services a reality. Follow @AccentureAI and visit accenture.com/appliedintelligence.

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.

CONTACT: José Luis Sánchez

Accenture

+34 609 04 71 38

Accenture

+34 691 33 88 89

KEYWORD: NORTH AMERICA UNITED STATES SPAIN EUROPE NEW YORK

INDUSTRY KEYWORD: NETWORKS DATA MANAGEMENT TECHNOLOGY SOFTWARE

SOURCE: Accenture

Copyright Business Wire 2019.

PUB: 09/10/2019 05:05 AM/DISC: 09/10/2019 05:05 AM

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