[February 20, 2017] |
|
Accenture Announces Intent to Acquire Digital Agency SinnerSchrader AG to Drive Expansion of Accenture Interactive in Germany
Accenture (News - Alert) (NYSE:ACN) has announced its intent to acquire SinnerSchrader
AG, one of the leading digital agencies in Germany. The acquisition
will strengthen and expand the capabilities of Accenture's digital
agency, Accenture
Interactive, to provide customer experience services to clients in
Germany. The two companies welcome the planned acquisition as a great
opportunity for their clients and employees.
This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170219005074/en/
Accenture has agreed to purchase a 62% majority of SinnerSchrader shares
from co-founder and CEO Matthias Schrader, CFO Thomas Dyckhoff, and
other shareholders at EUR 9.00 per share. Accenture also announced its
intention to launch a public tender offer to all remaining shareholders
at the same price. This represents an attractive premium of 58% over the
12-month volume-weighted average share price and 31% over the 3-month
volume-weighted average share price before announcement.
Additionally, Accenture and SinnerSchrader have signed an agreement
outlining the relationship between SinnerSchrader and Accenture
Interactive that aims to jointly develop digital transformation
solutions through the combination of consulting, design and technology.
Under the terms of the agreement, Matthias Schrader will retain his role
as CEO of the company and, after a transition period, lead the joint
digital agency business of Accenture Interactive in Germany, Austria and
Switzerland. The SinnerSchrader leadership team is expected to expand
the existing Accenture Interactive leadership team with additional
expertise. The supervisory board of SinnerSchrader has approved this
agreement.
SinnerSchrader is a full-service digital agency that specializes in
developing and implementing digital products, services, and marketing
solutions. It has approximately 500 employees in studios in Hamburg,
Berlin, Frankfurt, Munich, Prague and Hanover. Its clients include
Allianz, Audi, BMW, comdirect bank, ERGO, Telefonica (News - Alert), TUI, Unitymedia
and VW.
With this acquisition, Accenture will take another major step in
expanding its digital agency, Accenture Interactive, in Germany. The
acquisition will strengthen Accenture Interactive's capabilities in
customer experience design as well as development of digital strategies
and mobile offerings, and deepen its eCommerce and content marketing
offerings.
Accenture Interactive is the world's biggest and fastest-growing digital
agency, according to the latest agency
ranking by Advertising Age. It offers digital customer
experience services ranging from creative to technology, spanning
experience design, marketing, content and commerce.
SinnerSchrader will be Accenture Interactive's tenth acquisition
globally since 2013. Most recently, Accenture bought London-based
creative agency Karmarama.
Other acquisitions include global design and innovation consultancy
Fjord (News - Alert) which also has studios in Berlin and Zurich.
"With SinnerSchrader, we continue to build out Accenture Interactive's
position as a leading digital customer experience agency", said Brian
Whipple, head of Accenture Interactive. "We combine design,
innovation and the culture of an agency with the integration, scale, and
technology of Accenture - and a laser-focus on helping clients create
great customer experiences."
"The planned acquisition will benefit our clients and employees as well
as our shareholders," said Matthias Schrader, co-founder and CEO of
SinnerSchrader. "Linking our interdisciplinary culture spanning
consulting, design and technology with the global organization,
technology skills, and industry expertise of Accenture and Accenture
Interactive will enable us to service our clients more broadly and on a
global scale. Our talents will have access to new and exciting projects
and career opportunities."
"Technology and consumer expectations are changing fast, challenging
companies every day to create meaningful experiences for their
customers," said Rainer Balensiefr, head of Accenture Interactive
Germany, Austria and Switzerland. "This is an area where Matthias
Schrader and his team have significant expertise and experience, which
we will leverage to jointly drive our clients' digital businesses."
"SinnerSchrader' highly sought-after skills will go a long way in
securing our position as one of the leading providers for digital
transformation in Germany," said Frank Riemensperger, country managing
director of Accenture Germany. "We are pleased to welcome the
SinnerSchrader team and its distinctive digital agency culture."
The transaction is subject to customary closing conditions and is
expected to close in the first half of CY 2017.
Deutsche Bank acts as financial advisor to Accenture for the
transaction. SinnerSchrader has retained M.M.Warburg & CO as financial
advisor.
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 more than 394,000 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
Interactive, part of Accenture
Digital, helps the world's leading brands drive superior marketing
performance across the full multichannel customer experience. Accenture
Interactive offers integrated, industrialized and industry-driven
digital transformation and marketing solutions. It was named the world's
largest and fastest-growing digital agency in the latest Ad Age Agency
Report. To learn more follow us @accenturesocial
and visit www.accenture.com/interactive.
About SinnerSchrader
SinnerSchrader is one of Europe's leading digital agencies with a focus
on the design and development of digital products and services. Its team
of more than 500 build marketing solutions for brands including Allianz,
Audi, comdirect bank, ERGO, Telefonica, TUI, Unitymedia (News - Alert) and VW. Founded
in 1996 and a public company since 1999, SinnerSchrader has offices in
Hamburg, Berlin, Frankfurt, Munich, Prague and Hanover.
Legal Disclaimer
The execution of the offer is subject to approval of the offer document
by the Federal Financial Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht) and, following such approval, will be
made available at http://accenture.de/company-acquisition.
This press release does not constitute an announcement pursuant to the
German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und
Übernahmegesetz) nor any other laws or regulations applicable to the
intended takeover offer. This press release does not constitute an
invitation to make an offer to sell shares in SinnerSchrader AG or an
offer to purchase shares in SinnerSchrader AG. The offer document will
be published following approval by the German Federal Financial
Supervisory Authority (BaFin). Accenture will not carry out a takeover
offer under any jurisdiction other than Germany, particularly not in the
United States of America, Canada, Australia or Japan. The shares
referenced herein have not been and will not be registered under the
U.S. Securities Act of 1933, as amended (the "Securities Act"), or with
any securities regulatory authority of any state or any other
jurisdiction of the USA. Securities may only be offered or sold within
the USA pursuant to, or in a transaction not subject to or exempt from,
the registration requirement of the Securities Act. There will be no
public offering in the USA.
Accenture Safe Harbor Statement under The Private Securities
Litigation Reform Act of 1995
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: Accenture and SinnerSchrader
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 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;
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; the markets in which Accenture competes are highly
competitive, and Accenture might not be able to compete effectively;
Accenture could have liability or Accenture's reputation could be
damaged if the company fails to protect client and/or company data from
security breaches or cyberattacks; 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; 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; 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;
Accenture might not be successful at identifying, acquiring, investing
in or integrating businesses, entering into joint ventures or divesting
businesses; Accenture's Global Delivery Network is increasingly
concentrated in India and the Philippines, which may expose it to
operational risks; 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; adverse changes to
Accenture's relationships with key alliance partners or in the business
of its key alliance partners could adversely affect the company's
results of operations; Accenture'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
Accenture is unable to protect its intellectual property rights from
unauthorized use or infringement by third parties, its business could be
adversely affected; Accenture's ability to attract and retain business
and employees may depend on its reputation in the marketplace; if
Accenture 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 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 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170219005074/en/
[ Back To Shaping Influence's Homepage ]
|