Accenture (NYSE: ACN) has acquired Zestgroup, a services firm specializing in energy transitions, net carbon-zero projects and procurement of renewables. Terms of the transaction were not disclosed.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211216005430/en/
Zestgroup is now part of Accenture (Photo: Business Wire)
Zestgroup brings deep industry knowledge, project expertise and market regulation experience into helping organizations move to net-zero. These capabilities enhance Accenture’s ability to build more trusted, circular and net-zero value chains while driving social and economic benefits for all stakeholders.
“By combining years of deep industry expertise and capabilities, Zestgroup advances our ability to help clients move faster in achieving their carbon emission objectives,” said Nicole van Det, country managing director of Accenture Netherlands. “A sustainable future relies on organizations moving faster to transition ways of working to those that make greater use of sustainable clean energy sources.”
In fact, the International Energy Agency reports that renewables will soon generate as much electricity as fossil fuels, organizations must move faster to convert existing practices into those that make use of sustainable clean energy sources. Zestgroup supports this transition to sustainable energy sources, such as solar, water, heat, wind and biogas, and helps clients achieve net-zero carbon. The combination of these services with Accenture’s SynOps platform will give Accenture the ability to leverage insights to help clients extract greater value out of existing investments and accelerate their sustainability journey.
“Creating a sustainable future will be defined by those that create value faster and maximize the impact of those investments,” said Manish Sharma, group chief executive of Accenture Operations. “We’re delighted to welcome Zestgroup to our team, adding significant expertise to our procurement business while extending our ability to deliver on our promise to embed sustainability into everything we do and with everyone we work with.”
Headquartered in the Netherlands, Zestgroup brings more than 120 professionals to Accenture Operations, with clients in a variety of sectors and deep expertise across energy transition and reconciliation, supplier market regulations, renewable spending category and project and procurement services. It also provides spend optimization services to help organizations better manage sustainability spend and energy reconciliation services to better optimize claim settlements across the energy value chain.
Ramon van der Wal, chief executive officer of Zestgroup, added: “Growing our business as part of Accenture will translate into new opportunities for our people and our combined expertise will help our clients move faster and smarter as they realize the benefits that emerge from a net-zero journey.”
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 674,000 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 accenture.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 risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; the COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; 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 faces legal, reputational and financial risks from any failure 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 ability to attract and retain business and employees may depend on its reputation in the marketplace; 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 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 results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; 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; 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; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; 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; 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.