SÃO PAULO - Accenture (NYSE: NYSE:ACN) is set to acquire SOKO, a renowned Brazilian creative agency, to integrate into Droga5 São Paulo, part of Accenture Song. The acquisition aims to bolster the company's creative and brand capabilities in Brazil.
SOKO, established in 2015 and recognized as one of Brazil's top three advertising agencies by SCOPEN, is known for its innovative and creative brand storytelling. The agency's work has garnered international accolades from The One Show, Clio Awards, The Effies, Fast Company, and Cannes Lions.
David Droga, CEO at Accenture Song, praised SOKO's alignment with Droga5's values, emphasizing humanity and ambition in their work. He expressed confidence that SOKO's inclusion will enhance the agency's impact on client businesses in Brazil and globally.
Felipe Simi, founder & CEO of SOKO, highlighted the agency's commitment to innovation, impact, and diversity. He anticipates that joining forces with Accenture Song will amplify their cultural and business transformation efforts.
SOKO, backed by FLAGCX, has over 300 employees who will join Droga5 São Paulo, which opened in 2022. Simi himself has been recognized as a leading figure in Brazilian advertising, with accolades including the #1 most admired advertising executive in Brazil in 2023 Agency Scope research.
The acquisition is part of Accenture Song's strategy to enhance its client services through creative culture and diverse ecosystems, as stated by Eco Moliterno, chief creative officer for Latin America at Accenture Song.
Accenture Song has made a series of global acquisitions to support client growth and innovation. The terms of the SOKO acquisition have not been disclosed, and the completion is subject to regulatory approvals and customary closing conditions.
This expansion is in line with Accenture's commitment to driving change through technology, with a workforce of approximately 742,000 people worldwide. Accenture Song is positioned to foster growth and customer relevance from ideation to execution.
The information in this article is based on a press release statement.
InvestingPro Insights
As Accenture (NYSE: ACN) moves to expand its creative footprint in Brazil with the acquisition of SOKO, the company's financial health and market performance remain critical for investors. According to real-time data from InvestingPro, Accenture boasts a robust market capitalization of 188.82 billion USD, which underscores its significant presence in the IT Services industry. The company's P/E ratio stands at 27.14, reflecting market expectations of future earnings. Despite a slight revenue growth of 2.26% in the last twelve months as of Q2 2024, Accenture has maintained a solid gross profit margin of 32.58%, indicating efficient operations and strong pricing power.
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