Accenture (ACN - Free Report) has completed the acquisition of Apis Group, a privately held Australian government specialist consultancy. The financial terms of the deal have been kept under wraps.
Founded in 1999, Apis Group is engaged in providing strategic advisory services, project management, business and digital design services to some of Australia’s leading federal public service organisations. The company is experienced in shaping and delivering major business transformation programs, with a team of experts who works on service delivery reform initiatives within social services, health, aged care, education, employment, and environment sectors. It is headquartered in Canberra and has more than 120 professionals.
So far this year, shares of Accenture have gained 42.7% compared with 33.6% growth of the industry it belongs and 24% increase of the Zacks S&P 500 composite.
A Move to Strengthen Footprint in Australia
The acquisition will see the combination of Apis Group’s in-demand industry expertise, consulting skills and client relationships, with Accenture’s digital transformation capabilities. These additional features will help Accenture enhance its services to government and health clients in Australia.
Louise May, Accenture’s Health & Public Service practice lead at Australia and New Zealand, stated, “Apis Group’s extensive experience working with public service organisations complements Accenture’s established credentials across government.”
Bob Easton, chairman at Accenture Australia and New Zealand, stated, “The acquisition of Apis Group is the latest demonstration of our continued investment in Australia and our commitment to growing our capabilities in areas where we have ongoing client demand and new opportunities.”
Accenture’s prior initiatives in strengthening its presence in Australia included the opening of an innovation hub in Perth, Western Australia in November 2019 and acquisitions of big data and analytics company, Analytics8 in August 2019; cybersecurity and technology company, BCT Solutions in June 2019 and PrimeQ, an Oracle software-as-a-service cloud implementation service provider, in December 2018.
Notably, the tech-giant has invested $1.2 billion on 33 acquisitions in fiscal 2019 across the globe.
Zacks Rank & Stocks to Consider
Currently, Accenture carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Zacks Business Services sector are Global Payments (GPN - Free Report) , Mastercard (MA - Free Report) and Cardtronics (CATM - Free Report) . While Global Payments and Cardtronics sport a Zacks Rank #1 (Strong Buy), Mastercard carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected EPS (three to five years) growth rate for Global Payments, Mastercard and Cardtronics is 17%, 15.9% and 4%, respectively.
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