Accenture Completes Acquisition of Select Professional Services Workforce from Financial Software Firm Zafin

NEW YORK & TORONTO–(BUSINESS WIRE)–Accenture (NYSE: ACN) has completed its previously announced transaction
with Zafin, a worldwide leader in financial services software based in
Canada, under which select professional-services employees at Zafin —
based in Canada, India and the U.K. — have joined Accenture’s global
Financial Services practice.

The acquisition provides Accenture with additional technical integration
and development capabilities that will help financial institutions to
improve their pricing, personalization and product configuration,
without having to replace their legacy systems. Terms of the transaction
were not disclosed.

The completion of the acquisition follows the establishment of an alliance
between Accenture and Zafin and a recent
investment
by Accenture Ventures in Zafin.

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 469,000 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 Zafin

Established in 2002, Zafin (@Zafin) is a worldwide leader in financial
services software that drives relationship pricing, bundling and rates
management strategies for global financial institutions. Built from the
ground up for financial services, its platform empowers financial
institutions to increase revenue and efficiency by modernizing legacy
infrastructure and enables financial institutions to build more
personalized and profitable client relationships. Headquartered in
Toronto with offices around the globe, Zafin is trusted by some of the
world’s largest retail and corporate banks to provide more compelling
products and experiences to their clients. Visit us at Zafin.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.

Contacts

Melissa Volin
Accenture
+1 267 216 1815
melissa.volin@accenture.com

Don
Halliwell
Zafin
+1 647 537 6452
don.halliwell@zafin.com

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