Accenture plc (ACN - Free Report) recently announced that it has made a strategic investment in InCountry. The financial terms of the deal made through Accenture Ventures, the company’s corporate venture-capital arm, have been kept under wraps.
InCountry is a San Francisco, CA-based provider of data residency-as-a-service platform and consultancy. Its solutions help software-as-a-service companies make sure that their company and customer data is used in compliance with local regulations.
Accenture plans to use InCountry’s solution within its myNav cloud platform, as part of its sovereign cloud module. The company is now one of InCountry’s key channel partners.
Tom Lounibos, managing director, Accenture Ventures, said, “InCountry’s solution sits at the intersection of the cloud, security and compliance priorities of our clients and can have a significant impact on how they operate in the cloud.”
The deal is a part of Accenture’s continuous efforts to invest in emerging technologies capable of creating value for the company’s clients across the world.
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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