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Accenture to Acquire EdTech Leader Udacity to Accelerate Capabilities of Accenture LearnVantage

Accenture (NYSE: ACN) has agreed to acquire Udacity, a digital education pioneer with deep expertise in the development and delivery of proprietary technology courses that blend the flexibility of online learning with the benefits of human instruction. Terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240304047071/en/

Accenture has agreed to acquire Udacity, a digital education pioneer with deep expertise in the development and delivery of proprietary technology courses that blend the flexibility of online learning with the benefits of human instruction. (Photo: Business Wire)

Accenture has agreed to acquire Udacity, a digital education pioneer with deep expertise in the development and delivery of proprietary technology courses that blend the flexibility of online learning with the benefits of human instruction. (Photo: Business Wire)

Udacity’s team of more than 230 professionals will join Accenture LearnVantage, also announced today, which provides Accenture’s clients with comprehensive technology learning and training services that will help them reskill and upskill their people in technology, data and AI to reinvent their organizations and achieve greater business value.

Udacity is recognized for its cutting-edge learning approach that emphasizes the acquisition of practitioner-level technical skills. The acquisition will bring to Accenture Udacity’s capabilities in integrating proprietary content, expert services and scalable learning technology while seamlessly bridging the gap between online education and workplace relevance.

Since its founding in 2011, Udacity has evolved from primarily consumer-focused to a talent transformation platform bringing customer value creation through career development in AI and tech. Through its highly regarded network of more than 1,400 experts and a vast library of exclusive content co-created with industry leaders, Udacity has served more than 21 million registered learners in 195 countries, providing localized course offerings in multiple languages, including English, Arabic, Korean and Spanish. In a crowded market, Udacity has differentiated itself through its combination of high-quality content and ‘human in the loop’ learning, coupled with an outcome-focused approach.

“The rise of generative AI represents one of the most transformative changes in how work gets done and is driving a growing need for enterprises to train and upskill people in cloud, data and AI as they build their digital core and reinvent their enterprises,” said Kishore Durg, global lead of Accenture LearnVantage. “The addition of Udacity to Accenture LearnVantage will enable us to bring Accenture’s deep capabilities as a world-class learning organization to clients at scale, helping them build the skills of their people to achieve greater business value.”

“As we join forces with Accenture, we are thrilled to embark on this next chapter of our journey. Together, we are dedicated to delivering impactful and cutting-edge tech education that enables individuals and organizations to unlock their potential,” said Kai Roemmelt, CEO of Udacity. “This combined with Accenture’s world-class expertise and global footprint will allow us to reach even more learners and amplify our impact, empowering millions to thrive in the digital economy.”

Completion of the acquisition is subject to customary closing conditions, including required antitrust clearances.

About Accenture

Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 743,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.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,” “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 Udacity 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 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; 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 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; 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.

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