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Accenture (ACN) Adds SpiderOak to Its Investment Portfolio

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Accenture plc (ACN - Free Report) shares have gained 8.2% in the past three months, outperforming the 7.2% rally of the industry it belongs to and 6.9% growth of the Zacks S&P 500 composite.

The company recently announced that it has made a strategic investment in cybersecurity company, SpiderOak, through Accenture Ventures, its venture arm. Financial terms have been kept under wraps.

Founded in 2007, SpiderOak is a provider of end-to-end cybersecurity solutions for civil, military, and commercial space operations. The company’s OrbitSecure product suite facilitates zero trust security in zero gravity environments.



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SpiderOak Joins Project Spotlight

SpiderOak is now a participant in Accenture Ventures’ Project Spotlight, an engagement and investment program aimed at providing emerging technology software startups access to Accenture’s technological and domain expertise across its G2000 client base.

Through the strategic investment, Accenture aims at providing secure communications in space and integrate SpiderOak's technology with its own solutions, pertaining to satellite communications, remote IoT device-to-Satellite data, ground station as-a-service, Space R&D and earth observation data.

Tom Patterson, Quantum and Space Security lead at Accenture, stated, “Cybersecurity cannot be an add on, option, or silo in space. To protect and enable our future, we must give cybersecurity the same priority in space as it has now throughout critical infrastructure on the ground."

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

Investors interested in in the Zacks Business Services sector can consider the following stocks:

Green Dot (GDOT - Free Report) :  GDOT currently sports a Zacks Rank #1 (Strong Buy) and has a VGM Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company has an impressive earning surprise history, beating the Zacks Consensus Estimate in each of the trailing four quarters. The company has an average surprise of 37.3%.

Maximus (MMS - Free Report) : MMS also has a VGM Score of A and sports a Zacks Rank of 1.

The company has an impressive earning surprise history, beating the consensus mark in three instances and missing on one occasion, the average surprise being 9.6%.

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