We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Accenture (ACN) to Gain From Avenai Acquisition: Here's How
Read MoreHide Full Article
Accenture plc (ACN - Free Report) yesterday announced that it has inked a deal to acquire Avenai, an Ottawa-based provider of consulting and technology services. The deal closure is subject to customary closing conditions. Financial terms of the deal have been kept under wraps.
With more than 70 employees, Avenai is engaged in providing services related to strategy development, process improvement, IT-enabled business transformation and organization culture transformation. It was established in 2012.
Founders of Avenai - Chris Brennan, Mike Scotten and Brendan Timmins - will be joining as managing directors in Accenture’s Strategy & Consulting practice. Employees of Avenai will also join Accenture’s Strategy & Consulting practice.
Over the past six months, shares of Accenture have gained 25.6% compared with 22.5% rise of the industry it belongs to and 22.9% growth of the Zacks S&P 500 composite.
How Will Accenture Benefit?
With Avenai’s solid popularity among both government and commercial clients in the Ottawa and Toronto regions, the deal is expected to help Accenture enhance its technology-transformation capabilities across the public-sector market in Canada and strengthen its competitive position.
Jeffrey Russell, president of Accenture in Canada, stated, "COVID-19 is leading many Canadian organizations to accelerate their technology transformations to ensure they come out ahead in this new reality, and that’s why we are adding significantly to our team of experts in Ottawa."
Mark Lambert, managing director and federal public service practice lead in Canada, stated, "Government organizations are at a digital transformation tipping point, with many departments and agencies rapidly moving to the cloud and embracing new ways to modernize and improve delivery models and services for Canadians. Avenai brings a stellar consulting team that will be amplified by Accenture’s global reach to support our clients’ broad ambitions."
Considering the coronavirus-induced increased dependency on technology, the deal seems to be a strategic move on Accenture’s part to strengthen its foothold in the Canadian market in the current scenario.
Zacks Rank and Stocks to Consider
Accenture currently carries a Zacks Rank #3 (Hold).
The long-term expected earnings per share (three to five years) growth rate for Republic Services, CoreLogic and TransUnion is 7.9%, 12% and 14%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Accenture (ACN) to Gain From Avenai Acquisition: Here's How
Accenture plc (ACN - Free Report) yesterday announced that it has inked a deal to acquire Avenai, an Ottawa-based provider of consulting and technology services. The deal closure is subject to customary closing conditions. Financial terms of the deal have been kept under wraps.
With more than 70 employees, Avenai is engaged in providing services related to strategy development, process improvement, IT-enabled business transformation and organization culture transformation. It was established in 2012.
Founders of Avenai - Chris Brennan, Mike Scotten and Brendan Timmins - will be joining as managing directors in Accenture’s Strategy & Consulting practice. Employees of Avenai will also join Accenture’s Strategy & Consulting practice.
Over the past six months, shares of Accenture have gained 25.6% compared with 22.5% rise of the industry it belongs to and 22.9% growth of the Zacks S&P 500 composite.
How Will Accenture Benefit?
With Avenai’s solid popularity among both government and commercial clients in the Ottawa and Toronto regions, the deal is expected to help Accenture enhance its technology-transformation capabilities across the public-sector market in Canada and strengthen its competitive position.
Jeffrey Russell, president of Accenture in Canada, stated, "COVID-19 is leading many Canadian organizations to accelerate their technology transformations to ensure they come out ahead in this new reality, and that’s why we are adding significantly to our team of experts in Ottawa."
Mark Lambert, managing director and federal public service practice lead in Canada, stated, "Government organizations are at a digital transformation tipping point, with many departments and agencies rapidly moving to the cloud and embracing new ways to modernize and improve delivery models and services for Canadians. Avenai brings a stellar consulting team that will be amplified by Accenture’s global reach to support our clients’ broad ambitions."
Considering the coronavirus-induced increased dependency on technology, the deal seems to be a strategic move on Accenture’s part to strengthen its foothold in the Canadian market in the current scenario.
Zacks Rank and Stocks to Consider
Accenture currently carries a Zacks Rank #3 (Hold).
Some better-rankedstocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , CoreLogic and TransUnion (TRU - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected earnings per share (three to five years) growth rate for Republic Services, CoreLogic and TransUnion is 7.9%, 12% and 14%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>