Accenture (ACN) acquired Texas-based cloud-native services firm Headspring, to expand its platform engineering and cloud-first capabilities.
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The financial terms of the deal have been kept under wraps. Shares of the global professional services company have gained 44% over the past year. (See Accenture stock charts on TipRanks)
Details
Founded in 2001, Headspring offers a wide range of cloud services including platform architecture, engineering, modernization and product management across various sectors and industries, including energy, financial services, government, etc.
The addition of Headspring’s highly-skilled consulting team will complement the Accenture Cloud First platform and enhance its engineering capabilities. This will help clients speed up their cloud transformations and drive improved returns from their cloud investments.
Management Weighs In
Global lead of Accenture Cloud First, Karthik Narain, commented, “The depth and breadth of Headspring’s cloud-focused services and their significant experience working with Fortune 500 companies over the past two decades will be a valuable addition to our existing cloud engineering capabilities in North America and globally.”
Wall Street’s Take
Consensus among analysts is a Strong Buy based on 11 Buys and 3 Holds. The average Accenture price target of $384.88 implies upside potential of 6.9% from current levels.
TipRanks’ Smart Score
Accenture scores a “Perfect 10” on the TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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