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Accenture (ACN) Announces the Completion of N3 Acquisition

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Accenture plc (ACN - Free Report) announced today that it has completed the acquisition of Atlanta, GA-based business-to-business (B2B) sales firm N3. The buyout brings in nearly 2,200 employees to the company globally. Financial terms have been kept under wraps.

So far this year, shares of Accenture have gained 9.4%, ahead of 6.7% growth of the industry it belongs to, and 6.9% rally of the Zacks S&P 500 composite.

Founded in 2004, N3 features specialized sales talent across cloud, software platforms and 5G networks supported by cloud-based artificial intelligence (“AI”) and machine-learning (“ML”). The company’s client list includes big names such as Microsoft (MSFT - Free Report) , Cisco Systems (CSCO - Free Report) and SAP SE (SAP - Free Report) .

A Well-Timed Move

The buyout makes sense as it is aimed at improving clients’ sales growth through deepening sales interactions in an increasingly virtual environment under the influence of the pandemic. Accenture is now in a position to aggregate millions of interaction points into actionable insights by combining its SynOps platform with N3’s cloud-based AI/ML technology.

Manish Sharma, group chief executive of Accenture Operations stated, "Bringing N3 into the Accenture family will better enable us to help companies influence purchasing decisions at critical stages.” "Together, our real-time insights will augment decision-making, deepen sales interactions and help our clients achieve sustainable growth,” he added.

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

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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