Accenture (ACN - Free Report) yesterday announced that it has inked a deal to acquire Analytics8 — a privately held Australian big data and analytics consultancy. Financial terms have been kept under wraps.
Founded in Melbourne 2002, Analytics8 is engaged in data management, reporting and visualization, data science and analytics services. It has deep expertise across multiple industries, from healthcare to financial services. It offers data and analytics solutions to some of Australia’s biggest organisations.
The deal closure will see the joining of Analytics8’s Melbourne and Sydney-based team of 70 professionals into Accenture Applied Intelligence.
Eyes Australian Region
Addition of Analytics8 is expected to enhance Accenture’s innovation and digital capabilities and boost its growing applied intelligence business, especially in the Australian market.The acquisition should bolster Accenture’s potential in delivering AI-powered data and advanced analytics services to clients.
Accenture’s prior initiatives to strengthen its Australian presence included the acquisition of cybersecurity and technology company, BCT Solutions in June 2019 and PrimeQ — one of Australia’s and New Zealand’s leading Oracle software-as-a-service cloud implementation service providers — in December 2018.
So far this year, shares of Accenture have gained 34.4% compared with 25.7% rise of the industry it belongs and 12% increase of the Zacks S&P 500 composite.
Zacks Rank & Other Stocks to Consider
Accenture currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other top-ranked stocks in the broader Zacks Business Services sector are Visa (V - Free Report) , Huron Consulting (HURN - Free Report) and Fiserv (FISV - Free Report) , each carrying a Zacks Rank #2. Long-term expected EPS (three to five years) growth rate for Visa, Huron Consulting and Fiserv is 16.5%, 13.5% and 12%, respectively.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>