- 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.
Applied Materials Stock Climbs After Q1 Beat, Strong Guidance
Applied Materials reported quarterly earnings of $2.13 per share which beat the analyst consensus estimate of $1.91 by 11.52%. The company reported quarterly sales of $6.71 billion, beating the analyst consensus estimate of $6.48 billion by 3.55%. and representing a 0.47% decrease over sales of $6.74 billion from the same period last year.
