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Accenture Announces Sale of Stake in Its Bit2win Business

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Accenture plc (ACN - Free Report) announced yesterday that it will sell a majority stake in its Bit2win business to the existing Bit2win management team and GELLIFY. The Bit2win’s senior management team, along with 25 personnel, is expected to move from Accenture to the new company.

The financial terms of the transaction, which are subject to customary closing conditions, have been kept under wraps.

Bit2win is a software-as-a-service solution for order management and sales maximization built on Salesforce (CRM). Accenture got it as part of its acquisition of New Energy Group in 2016. GELLIFY is a global innovation platform that connects B2B startups with traditional firms for innovation-based products, processes and business models.

According to Alessandro Marin, senior managing director and Accenture Technology lead ICEG (Italy, Central Europe and Greece), “The new Bit2win journey is designed to meet these needs, providing clients with the solutions needed to quickly implement their market strategies while continuing the successful growth path undertaken so far.”

Notably, shares of Accenture have gained 13.4% year to date compared with 14.1% rally of the industry it belongs to and 6.8% growth of the Zacks S&P 500 composite.

Zacks Rank and Other Picks

Accenture currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are BG Staffing (BGSF - Free Report) , CoreLogic (CLGX - Free Report) and Sykes Enterprises (SYKE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank  stocks here.

Long-term earnings (three to five years) growth rate for BG Staffing, CoreLogic and Sykes Enterprise is estimated at 20%, 12% and 8%, respectively.

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