Accenture (ACN), a global professional services company, has revealed its plans to acquire BENEXT. The terms of the deal have not been disclosed so far. Moreover, the deal requires consultation with the relevant works councils and is subject to customary closing conditions.
BENEXT is a product consulting company that specializes in product management, agile coaching, cloud-based development and data science.
Following the deal, about 160 employees of BENEXT will become part of Accenture’s OCTO Technology to bolster the European and global capabilities of Accenture Cloud First. (See Accenture stock chart on TipRanks)
Accenture aims to cater to the growing demand for effective product management and agile methods by leveraging the use of the latest technologies like cloud, artificial intelligence, data, and DevOps.
The Global Lead at Accenture Cloud First, Karthik Narain, said, “With many clients ramping up their multi-cloud environments, the need for new agile operating models and a seamless user experience across a multi-cloud network has never been greater. By tapping into the dynamic capabilities of the cloud, leading companies can reimagine their businesses from design to delivery.”
Last month, J.P. Morgan analyst Tien Tsin Huang maintained a Buy rating on Accenture with a price target of $364 (6% upside potential from current levels).
Overall, the rest of the Street is bullish on the stock and has a Strong Buy consensus rating based on 16 Buys and 4 Holds. The average Accenture price target of $326.17 implies downside potential of 5% from current levels.
According to TipRanks’ Smart Score system, Accenture gets a 9 out of 10, which indicates that the stock is likely to outperform market averages.
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