Accenture To Acquire IT Services Provider Trivadis For Undisclosed Sum

Accenture PLC ACN inked an agreement to acquire Trivadis AG, an IT services provider specializing in platforms and solutions.
The financial terms of the transaction remain undisclosed.
Trivadis's team of over 710 professionals located across Switzerland, Germany, Austria, Denmark, and Romania will join Accenture's Data & AI team within the Accenture Cloud First group.
Accenture's clients can blend data from different sources in real-time, build agile reporting, and leverage analytics and AI to create broadly accessible customer, market, and operational insights, Accenture Cloud First global head Karthik Narain said.
It will bolster Accenture's data on cloud capabilities and scale Accenture's end-to-end data and analytics offering and reinforce cloud, and data-driven reinvention strategies, Accenture market unit lead Frank Riemensperger said.
Accenture held $10 billion in cash and equivalents as of May 31, 2021.
Price action: ACN shares closed lower by 0.55% at $294.79 on Wednesday.