ACCENTURE ACQUISITIONS
Accenture boosts silicon design chops with its third acquisition Cientra
Accenture will add Cientra's 530 employees to its Advanced Technology Centres in India. In the growing semiconductor market, several firms are taking the acquisition route to expand their businesses in the space. From September 2023 to May 2024, Accenture made a total of 35 acquisitions. The company also acquired Excelmax Technologies earlier this week.
Accenture acquires Excelmax Technologies to expand semiconductor design services
Accenture acquired semiconductor firm Excelmax, adding 450 professionals and expanding into AI, automotive, and consumer devices. Following the XtremeEDA acquisition and $2.3 billion in investments in Q3 FY24, CEO Patil cited new innovation opportunities. Group Chief Narain highlighted generative AI. Excelmax excels in design-to-layout execution, crucial for Accenture's comprehensive silicon solutions. Financial terms remain undisclosed.
IT firms chasing acquisitions to enhance their topline and skills
Indian information technology (IT) services are banking on acquisitions to fuel growth amid a dire need for investments in new capabilities, especially GenAI, as a slowdown in global demand keeps away opportunities for organic expansion.
How will Indian IT companies perform going ahead? Sandip Agarwal answers
I think we are maybe one or two quarter away from it flowing down to even outsourcing. But because markets are forward looking, you can see a big run up even in the Indian IT services much before the actual numbers come.
Accenture narrows its revenue guidance to 1.5-2.5% in FY24
Accenture's strong financial performance, driven by AI adoption, generative technologies, and strong revenue growth, positions it as a key player in the IT services sector.
How IT companies are using acquisitions to build engineering prowess
IT companies like Cognizant are acquiring engineering services companies to expand their competencies and fend off competition from pure-play firms. Cognizant's recent $1.3 billion acquisition of Belcan marks its largest in this segment, signaling a trend in the industry.
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InCred Capital appoints Julius Baer India’s Vikram Agarwal as chief operating officer
InCred Capital appointed Vikram Agarwal as its COO, who brings extensive experience from Julius Baer India to lead various functions at the Mumbai-based company.
Accenture spots about 10% revenue upswing via GenAI
In an exclusive interview with ET, Senthil Ramani, global lead – data and AI at Accenture, said the company's clients across key sectors, including banking and insurance, consumer goods, retail and software and platforms, are betting on potential increase in revenues through integration with generative AI.
Tech companies are bridging gender gap in a more sustainable fashion
Closing the gender gap in India's tech sector requires collaboration across sectors. Efforts from employers, educational institutions, and the government are crucial. Promoting gender diversity, providing support systems, and addressing issues like the gender pay gap and lack of opportunities are key steps towards achieving equality.
Tech companies roll up sleeves to get more women into STEM jobs
As of 2023, women account for 27% of India’s STEM workforce, compared to 32% of the non-STEM workforce, according to the recent Global Gender Gap Report 2023 by the World Economic Forum.
Lenovo will invest $1 billion in its AI business over next three years
The company's investment strategy includes an additional $100 million commitment to the expansion of the Lenovo AI Innovators programme which includes an ecosystem of software partners collaborating with the company to offer ready-to-deploy AI solutions.
Accenture to invest $3 billion in Artificial Intelligence, double AI talent to 80,000
Accenture said it will invest in new and existing relationships across cloud, data, and AI.
Brookfield India REIT appoints bankers, targets July for $400 million raising: Sources
Brookfield India Real Estate Investment Trust (REIT) has appointed eight investment banks for its planned equity raising of around $400 million, and is targeting the deal's closure by July, three people with direct knowledge said.
Outsourcing majors, PE funds in fray for Everise
Everise provides services in areas of health and wellness, travel and hospitality, media and communications, financial services and logistics & supply chain. Everise has 16,000 employees. It operates in Colombia, Guatemala, Ireland, India, Malaysia and the Philippines, with headquarters in Singapore and the US.
Largecap vs midcap: Accenture earnings show which IT companies may benefit
Accenture is usually seen as a bellwether for the global IT sector, and analysts gauge the prospects for the Indian IT sector based on the global firm’s commentary and business outlook.
IT stocks gain in lacklustre trade; here's why
At the same time, analysts at JM Financial said that one should be wary of extrapolating Accenture's results to Indian IT players as this might reflect the strength of its scale and vantage position in advisory-led cost takeout/vendor consolidation scenarios rather than broader demand.
Accenture to acquire Bengaluru-based industrial AI firm Flutura
Bengaluru-headquartered Flutura will strengthen Accenture's industrial AI services to increase the performance of plants, refineries, and supply chains while also enabling clients to accomplish their net zero goals faster.
IBS Software acquires AFLS, enters air and ocean freight sector
V K Mathews, Executive Chairman of IBS Software, termed the acquisition as a "strategically important milestone" for his company's cargo and logistics business and to broaden its global footprint.
2022, a year of intermittent fasting for startups and VCs
2022 will be remembered as the year of absolute discipline for the fintech sector with regulations, readjusted business models and a 40% funding drop.
Google completes $5.4 billion acquisition of Mandiant that found SolarWinds hack
Mandiant will join Google Cloud to help organisations improve their threat, incident and exposure management.
More growth-obsessed than before: Wipro Chairman Rishad Premji
Wipro to focus on hyerscaler partnerships and large deals to drive growth.
Cybersecurity to present new opportunities for IT services providers
At present, almost half of enterprise outsourced cybersecurity spending, on average, goes to security operations centres (SOC) and security information and event management (SIEM) services.
Accenture forecasts third-quarter revenue above estimates
Analysts have also suggested that the enterprise software markets that includes players such as Oracle and Salesforce are showing more positive trends in client spending.
CPPIB picks up Prestige stake in RMZ JV for ₹1,800 crore
"This joint venture will provide RMZ additional opportunities to forge new strategic financial co-investments and remain ahead of the curve whilst also significantly increasing capital allocation to the core and development asset portfolios," said Manoj Menda, Corporate chairman, RMZ.
BFSI solutions help Indian IT firms ace digitisation race
Globally, Accenture leads the BFSI solution space followed closely by TCS and Infosys, say analysts, although IBM spin-off Kyndryl and midcap Indian IT service providers are likely to be close contenders in this space.
Accenture to acquire BRIDGEi2i to augment AI, data analytics business
Accenture Plc has decided to acquire BRIDGEi2i, in a deal that will see more than 800 employees of the Bengaluru-based AI and analytics firm join the world’s largest IT consultancy’s Applied Intelligence practice.
Accenture raises revenue growth forecast, in positive cues for TCS, Infosys
Accenture’s performance and revenue growth forecast is typically seen as a barometer for the performance of Indian IT companies, including Tata Consultancy Services (TCS), Infosys and Wipro.
Accenture acquires cloud analytics firm Core Compete
Core Compete is Accenture's eighth applied intelligence-focused acquisition in the past two years, building on its growing analytics, data and AI business around the world.
Accenture to acquire cloud engineering firm Imaginea
The acquisition will add 1,350 cloud professionals to Accenture and will augment its full stack engineering, cloud data and cloud modernisation skills across platforms like Amazon Web Services, Azure and Google Cloud Platform.
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