Accenture Plc. (ACN) has acquired London-based innovation strategy consulting firm Founders Intelligence. The acquisition boosts Accenture’s offerings to help senior management device sustainable techniques and value through innovation.
Accenture is a global professional services provider focused on IT services and consulting. With a market cap of $241.98 billion, shares have gained 52.2% over the past year.
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Founders Intelligence
Established in 2013, Founders Intelligence enables corporates to create growth by using business models and insights from technology entrepreneurs and investors.
The team of 35 professionals are former start-up founders and strategy experts who combine their business acumen, and commercial expertise with the technology start-up ecosystem. The company boasts of serving the Financial Times Stock Exchange 100 Index (FTSE 100) companies and other global corporations with their innovative insights, enabling their growth through innovation. The team will joining ACN’s Innovation practice.
Management Comments
Accenture’s Innovation Lead for Europe, Lucy Cooper, said, “Together we can help our clients create the growth initiatives that have a lasting impact on their future. Founders Intelligence’s venture-inspired approach and deep insights have garnered respect among C-suite leaders and will enhance our network of innovators that deliver significant value for our clients.”
CEO and co-founder of Founders Intelligence, Rob Chapman, said, “Being part of Accenture will provide enormous opportunities for our people and clients as we combine our entrepreneur-led growth approach with Accenture’s global innovation ecosystem and delivery capabilities.”
Target Price
The Wall Street community has a Strong Buy consensus rating on the ACN stock with 11 Buys and 3 Holds. The average Accenture price target of $380.50 implies 2.52% upside potential to current levels.
Bloggers Opinion
TipRanks data shows that financial blogger opinions are 92% Bullish on ACN, against a sector average of 70%.
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