Accenture To Scoop This Japanese Data Science Company For Undisclosed Terms

Accenture plc 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.