Accenture PLC - ACN STOCK NEWS

Accenture's new research reveals that organizations with an advanced digital core, strategic innovation investments, and balanced technical debt management achieved 60% higher revenue growth and 40% higher profits. The study, analyzing 1,500 technology executives across 19 industries and 10 countries, emphasizes the importance of a strong digital core for business reinvention and seizing new opportunities, especially with advancements like generative AI.

The research outlines three key tenets for a reinvention-ready digital core: 1) Build an industry-tailored advanced digital core, 2) Boost strategic innovation investments, including AI-driven systems, and 3) Balance technical debt with future investments. Accenture recommends allocating about 15% of IT budgets to remediate technical debt and maintain evergreen IT capabilities.

EVPassport, the leading EV charging network in the US, has appointed Mike Milburn to its Board of Directors. Milburn, former Chief Customer Officer at Salesforce (NYSE: CRM), brings over 20 years of leadership experience in SaaS, growth, and innovation. This appointment follows EVPassport's recent $200 million investment to accelerate its end-to-end EV charging solution.

EVPassport's innovative infrastructure-as-a-service (IaaS) model has enabled rapid growth across 35 states, Canada, and Mexico. The company has deployed thousands of chargers, serving over 500 enterprise customers with a 99.97% uptime. Milburn's expertise in integrating software services and infrastructure is expected to support EVPassport's mission to build the most reliable and user-friendly EV charging network.

Accenture (NYSE: ACN) has agreed to acquire Logic, a retail technology services firm, to enhance its retail technology transformation capabilities. Logic, founded in 1997 and headquartered in Minneapolis, brings approximately 800 professionals with specialized skills in retail-focused technical strategies. The acquisition will expand Accenture's capabilities in merchandising, stores, digital, analytics, and cloud, as well as in core technologies, platforms, and AI.

This strategic move aims to help retailers transform their organizations with technology, enabling them to navigate the evolving retail landscape more effectively. Logic currently serves over 150 retail clients worldwide from offices in 11 countries. The acquisition is subject to customary closing conditions and regulatory approvals. Financial terms were not disclosed.

Accenture (NYSE: ACN) has acquired Cientra, a silicon design and engineering services firm, to bolster its silicon design capabilities. Cientra, established in 2015, operates from New Jersey, Germany, and multiple locations in India. The acquisition, which includes 530 engineers, aims to enhance Accenture's services in embedded IoT and application-specific integrated circuit design. This move follows Accenture's recent acquisition of Excelmax Technologies and XtremeEDA, underscoring its commitment to supporting clients in semiconductor innovation for data computing, cloud computing, and AI proliferation. The financial terms of the deal were not disclosed.

Accenture (NYSE: ACN) has acquired True North Solutions, headquartered in Calgary, to enhance its capabilities in the energy sector. This acquisition will help clients in the oil, gas, and mining industries optimize operational technology (OT) and integrate it with enterprise IT systems for improved safety and efficiency. True North Solutions brings expertise in industrial engineering, including OT cybersecurity, industrial automation, and enterprise asset management. Accenture plans to leverage this expertise with advanced digital technologies like predictive maintenance and intelligent asset management. The acquisition adds 95 specialists to Accenture's Industry X service.

A recent study by Accenture reveals that companies with advanced supply chains are 23% more profitable than their peers. These leading firms are six times more likely to implement AI and generative AI across their supply chains, resulting in significant additional business value. The report, which analyzed 1,148 companies across 15 countries and 10 industries, found that 'Leaders'—the top 10%—achieved 23% higher margins and 15% better shareholder returns between 2019 and 2023, compared to their peers.

Leaders invest heavily in advanced technologies to enhance supply chain efficiency, agility, sustainability, and resilience. Despite these gains, the report highlights a widespread lack of supply chain maturity, with an average score of just 36%. This score varies significantly by country and industry, indicating a pressing need for many companies to adopt modern technologies to stay competitive.

Accenture (NYSE: ACN) has acquired Excelmax Technologies, a semiconductor design services provider based in Bangalore, India. This acquisition aims to bolster Accenture’s silicon design and engineering capabilities, aligning with the tech industry's increasing demand for silicon solutions driven by AI, edge computing, and data centers. Excelmax, founded in 2019, provides comprehensive semiconductor solutions across various stages from design to manufacturing and full turnkey execution. The company adds about 450 professionals to Accenture, enhancing its ability to innovate in sectors such as automotive, telecommunications, and high-tech industries. Financial terms of the deal were not disclosed.

Accenture (NYSE: ACN) has finalized the acquisition of OPENSTREAM HOLDINGS, along with its subsidiaries, Open Stream and Neutral, enhancing its digital and cloud capabilities. Announced initially on May 17, 2024, this acquisition adds around 1,000 cloud and digital experts to Accenture's team. These experts will bolster Accenture’s ability to support clients in system modernization and adopting cloud, data, AI, and IoT technologies. Additionally, the acquisition strengthens Accenture’s client portfolio and automation solutions across the entire product value chain, covering procurement, manufacturing, logistics, and after-sales service.

Accenture (NYSE: ACN) reported its third-quarter fiscal 2024 results, revealing new bookings of $21.1 billion, up 22% in U.S. dollars and 26% in local currency. Revenues were $16.5 billion, slightly down by 1% in U.S. dollars but up by 1.4% in local currency. GAAP operating margin increased to 16.0%, and GAAP EPS decreased by 3% to $3.04. Adjusted EPS similarly decreased by 2% to $3.13.

Generative AI bookings reached $900 million, totaling $2 billion year-to-date. Despite the overall revenue decrease, managed services saw a 2% increase in U.S. dollars and 4% in local currency. Consulting revenues were down by 3% in U.S. dollars and 1% in local currency.

Accenture's business outlook for fiscal 2024 expects revenue growth between 1.5% and 2.5% in local currency with adjusted EPS forecasted between $11.85 and $12.00.