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Accenture Announces Intent to Acquire XtremeEDA to Expand Silicon Design Capabilities in Canada and US

ACN

Acquisition will bolster Accenture Cloud First's edge computing capabilities

TORONTO and AUSTIN, Texas, June 27, 2022 /CNW/ - Accenture (NYSE: ACN) has entered into an agreement to acquire XtremeEDA, an Ottawa-based silicon design services leader. The company provides semiconductor engineering services for clients seeking custom silicon solutions used in consumer devices, cloud data centers, machine learning and artificial intelligence (AI) computational platforms to enable edge AI deployment. The terms of the acquisition were not disclosed.

XtremeEDA to become part of Accenture (CNW Group/Accenture)

The acquisition of XtremeEDA will expand Accenture Cloud First's capabilities in edge computing to help clients improve how they manage and use physical assets at or near the user and create new interactive, human experiences.

"We believe silicon engineering has enormous potential to help organizations uncover new ways to differentiate and personalize experiences in the digital world," said Karthik Narain, global lead of Accenture Cloud First. "Excellent, fit-for-purpose silicon design translates into real-time, seamless, accessible and completely user-centered experiences. The XtremeEDA team's expertise will help us bring more specialized, high-performance and scalable compute capabilities to our clients as they utilize the power of the Cloud Continuum to reinvent their enterprises."

Founded in 2002, XtremeEDA is recognized across North America for its expertise in digital design verification, processor and system integration and hardware security. XtremeEDA has an office in Ottawa and brings a team of approximately 40 experienced engineers and practitioners who serve North American clients across industries including software and platform, telecommunications, consumer products, avionics and defense.

Among XtremeEDA's core offerings is digital design verification where experienced engineers deliver advanced verification services and solutions including reusable and scalable implementation. The company also offers processor and system integration services through applied state-of-the art verification, performance analysis and coherency testing. In close partnership with clients, XtremeEDA ensures hardware products are designed with the best technologies to safeguard against an increasingly complex and evolving security environment.

"We welcome the addition of the XtremeEDA team to expand our edge computing and silicon design capabilities in North America. XtremeEDA will help us scale what is already one of the most comprehensive edge capabilities in the world, creating new experiences on the digital core," said Jeffrey Russell, president of Accenture in Canada. "By combining XtremeEDA's strong and deep experience in advance silicon design with Accenture's Cloud First capabilities, we are poised to deliver more value for clients in specialized hardware, distributed cloud, decentralized edge computing and complex security needs."

"Joining Accenture will enable us to continue the mission we started 20 years ago: to be a strategic partner for clients and to have global reach," said Claude Cloutier, CEO, XtremeEDA. "It's a milestone moment to bring our team's experience to Accenture's end-to-end silicon engineering services. We are excited for the journey ahead, one that will open greater opportunities for our clients and people."

Since 2020, XtremeEDA is the fifth business that Accenture Canada will acquire. Recent acquisitions include:

  • In September 2021, Accenture acquired Gevity, a strategy and consulting organization focused on helping healthcare industry clients transform their businesses through innovative technology solutions based in Victoria.
  • In July 2021, Accenture acquired Cloudworks, a leading Oracle Cloud service provider based in Toronto.
  • In 2020, Accenture acquired Avenai, another Ottawa consultancy focused on public service organizations, and Callisto Integration, an Oakville, Ontario, provider of consulting and technology services in digital manufacturing in food and beverage, chemicals, utilities and other industries.

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, Technology and Operations services and Accenture Song — all powered by the world's largest network of Advanced Technology and Intelligent Operations centers. Our 710,000 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.

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 risks include, without limitation, risks that: Accenture and XtremeEDA will not be able to close the transaction in the time period anticipated, or at all, which is dependent on the parties' ability to satisfy certain closing conditions; the transaction might not achieve the anticipated benefits for Accenture; Accenture's results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions, including the invasion of Ukraine by Russia, the related sanctions and other measures that have been and continue to be imposed in response to this conflict, as well as the current inflationary environment, and the effects of these conditions on the company's clients' businesses and levels of business activity; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; 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 match people and skills 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 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; 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.

SOURCE Accenture

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