Information technology and consulting services provider Accenture (NYSE:ACN) announced the acquisition of Work & Co, which develops digital products and services. Once the deal is completed, Work & Co will be part of Accenture Song, Accenture’s tech-powered creative services division.
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Work & Co has expertise in developing digital experiences and products such as mobile apps and commerce platforms, digital kiosks, and generative artificial intelligence (AI) applications. The deal will strengthen Accenture Song’s digital products and experience transformation skills. Thus, it will position it well to capitalize on the global digital transformation market.
Accenture Song was introduced in April 2022. Meanwhile, its CEO, David Droga, said that as Accenture Song is growing in scale, the company is adding more tech expertise and creative excellence into its portfolio to strengthen its competitive positioning.
What is the Forecast for Accenture Stock?
Acquisitions have been a key part of Accenture’s strategy to fortify its product offerings and competitive positioning. Further, its growing high-value customer base and solid bookings continue to drive its financials and share price.
Accenture stock has appreciated about 27% in value over the past year. Meanwhile, with 10 Buy and six Hold recommendations, ACN stock has a Moderate Buy consensus rating.
Analysts’ average price target of $367.88 implies 7.33% upside potential from current levels.
