Accenture On An Acquisition Roll

Consulting company Accenture has been busy lately, laying out a seemingly endless string of acquisitions in the past year. July alone has seen 7 acquisitions on Accenture’s behalf. The company announced some big-ticket M&As like Google Cloud premier partner, Wabion and Paris-based consulting company, Nell’Armonia. Its most recent acquisition, Cloudworks, will expand the company’s Oracle capabilities in Canada.

With no signs of stopping, the company continues to throw capital at an impressive number of businesses globally, many relating directly to cloud software and cybersecurity.

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“Our level of investment demonstrates how scale, experience and trust matters. Scale in terms of our financial capacity, experience in terms of our track record [in] the successful integration of approximately 200 companies since 2013, and the trust we have earned in the market that attracts leading companies to want to join the Accenture family,” said Julie Sweet, CEO of Accenture. “We’re going to make acquisitions to scale [and] to add new skills and opportunities.”

In 2020, Accenture launched a new offset called Accenture Cloud First. The new multi-service group consists of over 70,000 cloud professionals with $3 billion of promised investment capital over the next three years. This provides a clear perspective into why Accenture is devoting such a vast net of capital at successful companies that meet the criteria for cloud-improvement services.

With Accenture seeing double-digit growth in its security business in Q3, the company also has sights on maximizing the security potential for its cloud services. In June, Accenture purchased Swedish company Sentor, a cybersecurity and management services company, which marked its 40th acquisition in a year. The company also recently acquired a Virginia-based analytics security specialist Novetta, which has previously served federal U.S. organizations with cybersecurity, machine learning, and cloud engineering platforms.

Accenture reported a revenue of $13.3 billion in the third fiscal quarter, up 21% from last year. The company saw a 24% increase in operating income as well, now reaching $2.1 billion. Accenture has approximately 569,000 employees globally and offers services in over 120 countries.