Accenture to Acquire IQT Group, Strengthening Its Capabilities for Net-Zero Infrastructure Projects
Accenture has agreed to acquire IQT Group, a provider of engineering managed services for large infrastructure projects, based in Rovigo, Italy. The acquisition will combine Accenture’s generative AI and digital capabilities with IQT Group’s infrastructure projects expertise to help clients plan, execute and manage net-zero infrastructure projects more efficiently.
IQT Group focuses on designing and supervising net-zero infrastructure projects for electricity generation and transmission. The company works closely with utility providers, helping both private and public organizations build and modernize integrated electricity and water networks. It also supports maximizing energy efficiency of industrial and commercial sites, and designs and manages networks for telecom operators.
IQT Group’s recent projects have supported Italy’s clean energy transition under the EU’s National Recovery and Resilience Plan (PNRR), which aims to modernize Italy’s infrastructure and enhance energy efficiency for a net-zero future.
The company’s services cover planning and execution of infrastructure projects, from conducting feasibility studies, handling environmental planning and permits, and setting technical specs, to ensuring efficiency, safety and sustainability throughout the project. Its more than 450 consultants and engineers will join Accenture’s growing infrastructure and capital projects practice within Industry X in Italy.
Teodoro Lio, CEO of Accenture Italy and Market Unit Lead of Italy, Central Europe and Greece, said: “The proposed acquisition of IQT Group confirms our intention to further strengthen our position in Italy by enhancing our engineering expertise and the services related to the implementation of strategic net-zero infrastructure projects. Our teams aim to support public and private companies in the utilities, energy and telecommunications sectors with digital tools to make their projects more efficient and productive. Ultimately, we will help them build a lower-carbon energy system, which will not only reduce the carbon footprint of utilities but also of the industrial value chain it powers.”
Andrea Cavecchia, CEO of IQT Group, said: “Our expertise in engineering services for electricity, water and telecommunications infrastructure and industrial and commercial sites combined with Accenture’s global reach and digital capabilities, will allow us to expand our services and offer even greater value to our clients. Together we will pursue a sustainable future, built on smart strategic infrastructure to enhance the quality and safety of people’s lives.”
Accenture has been strategically expanding its infrastructure and capital projects capability globally and in Europe. Last year, it acquired U.S. advisory and management company Anser Advisory and consulting and Canadian program management company Comtech, and is now the seventh-largest professional services firm for infrastructure and capital projects in North America. Earlier this year, Accenture made its first acquisition in this space in Europe with BOSLAN in Spain, a management services provider focused on net-zero infrastructure.
Accenture’s recent acquisitions in Italy include Fibermind, a network services company; Intellera Consulting, with expertise in the national consulting market dedicated to the innovation of Public Administration; Ammagamma, a consulting company with Italian excellence in innovation related to Artificial Intelligence (AI); and Customer Management IT and SirfinPA, two companies offering innovative services and technological solutions in the fields of Justice and Public Security.
The terms of the transaction were not disclosed, and the acquisition is subject to customary closing conditions, including antitrust clearances.
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,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance nor promises that goals or targets will be met, and involve a number of risks, uncertainties and other factors that are difficult to predict and could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: Accenture and IQT Group 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 geopolitical 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 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; risks and uncertainties related to the development and use of AI could harm the company’s business, damage its reputation or give rise to legal or regulatory action; if Accenture is unable to match people and their 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; 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 ecosystem 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 due to pricing pressure, 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; Accenture’s debt obligations could adversely affect its business and financial condition; 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; as a result of Accenture’s geographically diverse operations and strategy to continue to grow in 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 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.
Also Read: The Rise of AI in Contact Centers – No Longer Just a Trend
[To share your insights with us as part of editorial or sponsored content, please write to psen@itechseries.com]
Comments are closed.