Accenture Acquires Excelmax Technologies to Expand Silicon Design and Engineering Capabilities

July 8, 2024

Accenture Acquires Excelmax Technologies to Expand Silicon Design and Engineering Capabilities

NEW YORK and BENGALURU; July 8, 2024 - Accenture (NYSE: ACN) has acquired Excelmax Technologies, a Bangalore, India-based semiconductor design services provider. The acquisition further enhances Accenture's growing silicon design and engineering capabilities. Terms of the transaction were not disclosed.

Excelmax provides custom silicon solutions used in consumer devices, data centers, artificial intelligence (AI) and computational platforms that enable edge AI deployments, to clients in the automotive, telecommunications and high-tech industries.

The semiconductor market is experiencing a surge in demand for silicon design engineering, driven by the proliferation of data centers and the increasing use of AI and edge computing. This is further propelled by the growing consumer appetite for electronics, which is driving new investments in the chip design space.

"With the rapid evolution of new technologies like generative AI and the growth of connected products, more intricate, specialized chips with enhanced performance and efficiency are required," said Karthik Narain, group chief executive-Technology at Accenture. "Our acquisition of Excelmax enhances our expertise across every aspect of silicon design and development-from concept to production-so we can help our clients fuel innovation and drive growth."

Founded in 2019, Excelmax brings comprehensive semiconductor solutions from high level design to detailed physical layout ready for manufacturing, and full turnkey execution. The company adds approximately 450 professionals to Accenture in key areas such as emulation, automotive, physical design, analog, logic design and verification, expanding Accenture's ability to help global clients accelerate edge computing innovation.

"Our focus has always been on developing the best talent to deliver tailor-made solutions for our global clients that help them build and maintain competitive advantage," said Shekhar Patil, founder & CEO, Excelmax Technologies. "Joining Accenture enables us to remain at the forefront of innovation, providing new and exciting opportunities for both our clients and our people."

This acquisition follows the addition of XtremeEDA, an Ottawa, Canada-based silicon design services company, in 2022.

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 750,000 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: 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.

# # #

Contacts:

Keerthi Goutham
Accenture
+91 99000 94099
[email protected]

Copyright © 2024 Accenture. All rights reserved. Accenture and its logo are trademarks of Accenture.