Accenture’s appetite for acquisitions is at an all-time high as the global solution provider powerhouse unveiled its 40th purchase over the past 10 months with the buy of cybersecurity firm Sentor Tuesday.
Fast-growing Accenture said it plans to spend $4 billion on M&A by the end of its fiscal year, which ends August 31, said chief executive Julie Sweet during the company’s quarterly earnings report last week.
“Our level of investment demonstrates how scale, experience and trust matters. Scale in terms of our financial capacity, experience in terms of our track record [in] the successful integration of approximately 200 companies since 2013, and the trust we have earned in the market that attracts leading companies to want to join the Accenture family,” said Sweet. “We’re going to make acquisitions to scale [and] to add new skills and opportunities.”
Accenture recently reported third fiscal quarter revenue of $13.3 billion, up 21 percent year over year. The company also saw a 24 percent increase in operating income to $2.1 billion.
Accenture’s stock is trading near all-time highs of around $294 per share.
Accenture Tuesday unveiled its acquisition of Sweden-based Sentor, a provider of cyberdefense and managed security services. Founded in 1998, Sentor offers advisory services, security testing and managed detection and incident response capabilities, powered by a 24/7/365 Security Operations Center in Stockholm. Its customer base spans industries such as finance, insurance, manufacturing and retail.
Financial terms of the Sentor deal were not disclosed. Sentor’s 80 staff members will immediately join the Accenture Security team.
“With the daily barrage of cyberattacks, it’s time for organizations to take a new view on managing cyber risks,” said Kelly Bissell, Accenture global security leader, in a statement on Tuesday. “Securing a business ecosystem can’t be piecemeal; it takes the right talent, investments and technology know-how. The acquisition of Sentor further expands our ability to help clients match this challenging cybersecurity environment.”
Security is a priority for Accenture. The company witnessed double-digit growth in its security business in its third quarter driven by advisory, cyberdefense and managed security services.
Australian companies have also been caught up in the spending spree. Last month, the company acquired both Sydney-based cloud consultancy Industrie&Co and Perth-based Schneider Electric partner Electro 80.
Accenture has roughly 569,000 employees on a global basis serving customers in more than 120 countries.