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Accenture (ACN) Adds TripleBlind to Its Investment Portfolio

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Accenture plc (ACN - Free Report) announced yesterday that it has made a strategic investment in TripleBlind through its venture capital arm Accenture Ventures. Terms of the deal have been kept under wraps.

Founded in 2019 and headquartered in Kansas City, TripleBlind is a provider of data privacy and virtual clean room solution. It offers digital privacy as a service, enabling companies to share sensitive information with their stakeholders without data decryption. It is the newest addition to Accenture Ventures’ investment portfolio.

Deal Details

As part of the deal, TripleBlind is now part of Project Spotlight, an exclusive Accenture Ventures investment program that gives start-ups access to Accenture’s technology domain expertise and its enterprise clients. Accenture and TripleBlind will co-innovate in Accenture’s Innovation Hubs, Labs and Liquid Studios with a view to enhance quality of privacy offerings and provide clients more confidence while using them.

“Our investment in TripleBlind demonstrates Accenture Ventures’ commitment to cultivating the latest technologies, enhanced by human ingenuity, that solve for our clients’ most critical business needs,“ said Tom Lounibos, managing director, Accenture Ventures.

Notably, Accenture’s shares have gained 21.1% over the past year outperforming the 18.7% rally of the industry it belongs to and 14.9% growth of the Zacks S&P 500 composite.

Zacks Rank & Stocks to Consider

Currently, Accenture carries a Zacks Rank #4 (Sell).

A few top-ranked stocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , Gartner (IT - Free Report) and Insperity (NSP - 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.

Long-term earnings (three to five years) growth rate for Republic Services, Gartner and Insperity is estimated at 9.4%, 13.5% and 15%, respectively.

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