Global professional services provider Accenture (ACN) has acquired Sweden-based Sentor. The financial details of the transaction remained undisclosed.
Sentor provides cyber defense and managed security services catering to clients across finance, insurance, manufacturing, and retail industries. The company also offers advisory services, security testing, managed detection, and incident response expertise.
Kelly Bissell, leader of Accenture Security globally, said, “With the daily barrage of cyberattacks, it is time for organizations to take a new view on managing cyber risks.” (See Accenture stock chart on TipRanks)
Bissell added, “The acquisition of Sentor further expands our ability to help clients match this challenging cybersecurity environment.”
Sentor’s security operations center in Stockholm operates around the clock. The company has garnered a very strong reputation in Sweden for its cybersecurity services, exclaimed Bala Periasamy, who leads Accenture Security in Sweden.
On June 28, Barclays analyst Ramsey El Assal reiterated a Buy rating on the stock and increased the price target to $335 (14% upside potential) from $310 after a “Strong earnings beat” and an improved outlook for the company.
Based on 13 Buys and 4 Holds, consensus on the Street is a Strong Buy. The average Accenture price target of $322.06 implies 9.6% upside potential. Shares are up 38.2% over the past year.
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