Global professional services company Accenture (ACN) revealed the acquisition of Entropia through Accenture Interactive. The financial terms of the deal have been kept under wraps.
Kuala Lumpur-based Entropia is an advertising and marketing services agency, which employs more than 210 skilled professionals and serves blue-chip clients to create brand experiences for business growth.
The deal marks Accenture Interactive’s first acquisition in Southeast Asia, thereby expanding its position in the growing transformation services market with experience-led services. Furthermore, the acquisition will enhance Accenture’s capabilities in varied fields including design and creative communications.
Accenture Interactive’s lead for Southeast Asia Thomas Mouritzen said, “Entropia’s addition will help us deliver innovation through technology to drive commerce and growth for our clients in Southeast Asia. It’s also an exciting chapter in our journey to strengthen and expand Accenture Interactive’s presence in the region.” (See Accenture stock analysis on TipRanks)
On May 10, Morgan Stanley analyst James Faucette reiterated a Buy rating on the stock with a $305 price target (9.1% upside potential).
After interacting with Accenture management, Faucette highlighted that the company plans to continue to invest through acquisitions.
The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 8 Buys versus 3 Holds. The average analyst price target of $301.73 implies 7.9% upside potential to current levels. Shares have increased 10.3% over the past six months.
Related News :
Splunk Posts Wider-than-Feared Quarterly Loss, Revenues Beat Estimates
PVH Corp Posts Stronger-than-Expected Quarterly Results
Advance Auto Parts Delivers Strong Q1 Results as Profit Soars
