Accenture Closes Acquisition of Cimation, Expanding Consulting, Digital and Cyber Security Services to Better Serve Oil and Gas, Pipeline, Chemicals, Metals and Mining Clients
Accenture (NYSE:ACN) announced today that it has completed the
acquisition of Cimation, an affiliate of Audubon Companies and an
Industrial Internet of Things (IIoT) consulting company known for its
work in process automation, information technology (IT) and industrial
control system (ICS) cyber security.
The transaction supports the integration of enterprise IT systems and
operational technology (OT) needed by resources industries to capitalize
on opportunities such as automation solutions, production optimization,
asset analytics and ICS cyber security. As a result, companies can
better maintain, operate and optimize their wells, pipelines,
refineries, chemical plants and mines.
“With Cimation, we further our capability to provide end-to-end services
to our customers as they operate and maintain their most important
industrial assets,” said Peggy Kostial, Senior Managing Director for
Accenture’s North America Resources operating group. “This union with
Cimation is our latest step in the execution of our strategy to move
beyond enterprise and customer services into asset management and
operations, taking advantage of the transformative opportunities driven
by the Industrial Internet of Things.”
Cimation’s approximately 200 people, most of whom are located in the
United States and Canada, will join the Accenture Asset and Operations
Services group.
“We look forward to playing a pivotal role in the delivery of IIoT
projects that push the boundaries of the digital revolution as a part of
Accenture,” said Jonathan Klein, Co-Founder and Chief Executive Officer,
Cimation. “As we further integrate our businesses, Accenture and
Cimation share two main objectives: to drive greater value for our
clients through the convergence of IT and OT and to provide exciting
career opportunities for Cimation’s team of dedicated employees.”
Founded in 2009 in Louisiana with executive offices in Houston and
Metairie, Cimation has been included on the Inc. 5000 list of America’s
fastest growing companies for four consecutive years, where it ranked
number 32 in the energy industry and number 31 in Houston in 2015. It
was also number 22 on Forbes’ 2013 list of America’s most promising
companies and has received numerous recognitions for its fast growth and
business performance, including top rankings in lists of the Houston
Business Journal and Control Engineering Magazine.
Terms of the transaction 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 approximately 373,000 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.
About Cimation
Cimation, an affiliate of Audubon companies, is an operations consulting
company delivering secure technology solutions to the global energy and
chemicals industries. As a vendor-agnostic firm, Cimation has executed
thousands of reliable consulting, system integration and engineering
projects that combine automation, industrial IT, enterprise data and ICS
cyber security solutions. Armed with diverse project experience, process
knowledge and technical expertise, Cimation’s global team improves its
clients’ operations by engineering and integrating industrial technology
that impacts safety and efficiency. Recent awards include: Inc.5000,
Forbes most promising companies, Houston Business Journal (HBJ) Fast
Tech 50 and HBJ Fast 100. For more information, visit www.cimation.com.
About Audubon Companies
Audubon Companies is a global provider of EPCM services for the oil &
gas, petrochemical, refining, and pipeline markets. Equipped with
experience and talent, Audubon Companies’ four affiliates – Audubon
Engineering Solutions, Audubon Field Solutions, Cimation, and Affinity –
deliver innovative and flexible solutions for repeatable project success
-- safely, on-schedule, and within budget. For more information, visit www.auduboncompanies.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 the company; the company’s results
of operations could be adversely affected by volatile, negative or
uncertain economic conditions and the effects of these conditions on the
company’s clients’ businesses and levels of business activity; the
company’s business depends on generating and maintaining ongoing,
profitable client demand for the company’s services and solutions, and a
significant reduction in such demand could materially affect the
company’s results of operations; if the company 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; the markets in which the company competes are highly
competitive, and the company might not be able to compete effectively;
the company could have liability or the company’s reputation could be
damaged if the company fails to protect client and/or company data or
information systems as obligated by law or contract or if the company’s
information systems are breached; the company’s results of operations
and ability to grow could be materially negatively affected if the
company cannot adapt and expand its services and solutions in response
to ongoing changes in technology and offerings by new entrants; the
company’s results of operations could materially suffer if the company
is not able to obtain sufficient pricing to enable it to meet its
profitability expectations; if the company does not accurately
anticipate the cost, risk and complexity of performing its work or if
the third parties upon whom it relies do not meet their commitments,
then the company’s contracts could have delivery inefficiencies and be
less profitable than expected or unprofitable; the company’s results of
operations could be materially adversely affected by fluctuations in
foreign currency exchange rates; the company’s profitability could
suffer if its cost-management strategies are unsuccessful, and the
company may not be able to improve its profitability through
improvements to cost-management to the degree it has done in the past;
the company’s business could be materially adversely affected if the
company incurs legal liability; the company’s work with government
clients exposes the company to additional risks inherent in the
government contracting environment; the company might not be successful
at identifying, acquiring or integrating businesses, entering into joint
ventures or divesting businesses; the company’s Global Delivery Network
is increasingly concentrated in India and the Philippines, which may
expose it to operational risks; changes in the company’s level of taxes,
as well as audits, investigations and tax proceedings, or changes in the
company’s treatment as an Irish company, could have a material adverse
effect on the company’s results of operations and financial condition;
as a result of the company’s geographically diverse operations and its
growth strategy to continue geographic expansion, the company is more
susceptible to certain risks; adverse changes to the company’s
relationships with key alliance partners or in the business of its key
alliance partners could adversely affect the company’s results of
operations; the company’s services or solutions could infringe upon the
intellectual property rights of others or the company might lose its
ability to utilize the intellectual property of others; if the company
is unable to protect its intellectual property rights from unauthorized
use or infringement by third parties, its business could be adversely
affected; the company’s ability to attract and retain business and
employees may depend on its reputation in the marketplace; if the
company is unable to manage the organizational challenges associated
with its size, the company might be unable to achieve its business
objectives; any changes to the estimates and assumptions that the
company makes in connection with the preparation of its consolidated
financial statements could adversely affect its financial results; many
of the company’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; if the
company is unable to collect its receivables or unbilled services, the
company’s results of operations, financial condition and cash flows
could be adversely affected; the company’s results of operations and
share price could be adversely affected if it is unable to maintain
effective internal controls; the company 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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