SPX3,998.84-72.86 -1.79%
DIA340.03-4.71 -1.37%
IXIC11,239.94-221.56 -1.93%

Accenture To Scoop This Japanese Data Science Company For Undisclosed Terms

Benzinga · 11/15/2022 12:55
  • Accenture plc (NYSE:ACN) looks to acquire Japanese data science company ALBERT Inc after completing a tender offer
  • The financial terms of the transaction remain undisclosed.
  • The acquisition will further add a large team of 250 data scientists to Accenture to strengthen its data and AI capabilities for clients.
  • The tender offer was launched on September 29 and closed on November 14. 
  • The number of ALBERT's shares and stock acquisition rights tendered to Accenture significantly exceeds the threshold required for ALBERT to become part of Accenture, equal to two-thirds of the ALBERT stock. 
  • Upon completion of the transaction, ALBERT will be part of Accenture. 
  • Accenture expects to purchase all remaining shares and stock acquisition rights in the coming months, after which ALBERT will delist from the Tokyo Stock Exchange.
  • ALBERT offers AI and big data analytics services, AI-based algorithm development, AI implementation consulting, and data science training support, primarily to major corporations in Japan.
  • ALBERT will strengthen Accenture's ability globally to help its clients manage the total reinvention of their enterprises.
  • Accenture held $7.9 billion in cash and equivalents as of August 31.
  • Price Action: ACN shares are trading higher by 1.87% at $294.31 on the last check Tuesday.