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Accenture plc (NYSE: ACN) is a global professional services company headquartered in Dublin, Ireland. With reported revenues of $61.6 billion in 2022, this Fortune Global 500 company specializes in information technology services and consulting. Accenture employs nearly 500,000 professionals across 200 cities in 51 countries, delivering a wide range of services including strategy, consulting, technology, and operations.
The company's core services encompass digital transformation, procurement, and software system integration. Accenture's diverse client base spans various sectors such as communications, media, technology, financial services, health and public services, consumer products, and resources. Recent accomplishments include the launch of a new federal health portfolio following the acquisition of Cognosante, which will enhance mission-driven solutions for federal health agencies.
Accenture is also focused on sustainable business practices. It recently acquired Partners in Performance, a strategy firm specializing in asset-intensive industries, to bolster its capabilities in data and AI. In the semiconductor industry, Accenture expanded its digital engineering services by acquiring Teamexpat, further cementing its leadership in technology-driven solutions.
Through innovative ventures like its partnership with Kraken Technologies, Accenture helps utilities modernize and enhance customer energy management, exemplified by its collaboration with EDF in the UK. The company's federal services arm, Accenture Federal Services, continues to support U.S. government agencies, evidenced by a contract with the TSA valued at up to $170 million to deliver agile technology solutions.
Accenture is committed to driving customer-centric transformations using advanced technologies. Collaborations with leading brands like Bath & Body Works and MI New York underline its ability to leverage AI and digital tools to enhance customer experiences and operational efficiency. By constantly evolving its service offerings and embracing cutting-edge technologies, Accenture remains a pivotal force in the professional services landscape, creating value for clients, shareholders, and communities worldwide.
Accenture Federal Services (AFS) has secured a $199 million contract from the U.S. Department of Homeland Security and Transportation Security Administration (TSA) for IT services supporting the Secure Flight System. The contract spans 10 years, focusing on enhancing passenger security through technology integration, including artificial intelligence and machine learning. AFS aims to transition to open-source technologies, targeting reduced operational costs while ensuring passenger privacy. AFS has managed TSA's Secure Flight program since November 2018.
Accenture (NYSE: ACN) has been recognized as a Leader for the fourth consecutive year in Gartner's "Magic Quadrant for Oracle Cloud Applications Services, Worldwide." This assessment evaluates 19 service providers based on their vision and execution capabilities in Oracle Cloud Application services. Gartner projects that by year-end 2024, 75% of Oracle application services revenue will be cloud-related. Accenture's extensive experience with Oracle solutions positions it to deliver significant value to clients, enhancing business outcomes through digital transformation.
Accenture (NYSE: ACN) has successfully acquired digital engineering and operational technology capabilities from Trancom ITS, enhancing its offerings in Japan. With approximately 190 engineers now joining Accenture's Industry X, the acquisition focuses on cloud-based logistics systems and the optimization of warehouse operations using IoT technology. This move strengthens Accenture's ability to deliver hyper-automation solutions, addressing growing demands from manufacturing and logistics sectors in Japan.
Accenture has successfully completed its acquisition of XtremeEDA, a prominent silicon design services firm based in Ottawa. Announced on June 27, 2022, this acquisition aims to enhance Accenture's capabilities in semiconductor engineering and custom silicon solutions for various applications, including consumer devices and AI platforms. The deal brings on board approximately 40 skilled engineers from XtremeEDA, strengthening Accenture's Cloud First initiative. Financial terms were not disclosed.
umlaut, a subsidiary of Accenture, has launched a private 5G standalone network called the "5G Campus Lab" in Aachen, Germany. This facility enables companies to design, test, and implement connectivity solutions without needing to invest in their own costly networks. The lab supports various industries, facilitating experimentation with smart manufacturing, telemedicine, and more. It offers 100 MHz of C-Band spectrum and employs Open RAN technology, promoting low-cost innovation and interoperability. umlaut aims to aid clients in building their private networks through its engineering expertise.
Accenture (NYSE: ACN) and Avanade have been awarded the 2022 Microsoft Global SI Partner of the Year for the 17th time, also receiving ten additional awards, including seven country-level recognitions. The accolades highlight their excellence in customer solutions using Microsoft technology, particularly in Dynamics 365 and supply chain management. With nearly 65,000 professionals focused on Microsoft technologies, the companies aim to tackle significant challenges in digital transformation and sustainability, further solidifying their partnership.
Accenture (NYSE: ACN) has announced its acquisition of XtremeEDA, a leading silicon design services company based in Ottawa. This strategic move aims to enhance Accenture's Cloud First capabilities in edge computing, enabling clients to optimize management and use of physical assets. XtremeEDA brings specialized expertise in semiconductor engineering, enhancing custom solutions for AI and machine learning applications. Although acquisition terms were not disclosed, the collaboration is expected to deliver advanced solutions and significant value to clients across diverse industries.
A new report from Accenture (NYSE: ACN), in collaboration with the World Economic Forum and the World Business Council for Sustainable Development, emphasizes the need for the automotive industry to embrace circularity, potentially increasing value chain profitability by 50%. The report highlights new revenue opportunities through as-a-service models and lifecycle services, suggesting that businesses could achieve lifetime revenues up to 20 times greater than initial vehicle sales. Adaptive strategies include partnerships, data transparency, and transforming operating models to enable a shift towards sustainability.
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