Accenture Plans To Acquire French Cloud Service Provider Linkbynet For Undisclosed Sum - Accenture (NYSE:ACN)

Accenture PLC ACN announced its intent to acquire French cloud services provider, Linkbynet, focused on cloud optimization, managed services, cloud transformation, and cloud security.
The financial terms of the transaction were not disclosed.
The acquisition would be another strategic step in strengthening Accenture Cloud First capabilities, Accenture Cloud First, global lead, Karthik Narain said.
Linkbynet’s talented team would bring deep cloud and engineering specialization, managed services, sophisticated technology tools, and cybersecurity intelligence, Narain added.
Accenture has made multiple strategic investments to expand and enhance its cloud services capabilities in the last two years, including France’s Gekko in June 2020 and Cirruseo in June 2019. The recent acquisitions include Edenhouse (UK), Infinity Works (UK), and Cygni (Sweden).
Accenture held $9.2 billion in cash and equivalents as of Feb. 28, 2021.
ACN hit a new 52 week high of $294.0991 on Monday.
Price action: ACN shares closed lower by 0.32% at $290.61 on Monday.