Accenture Acquires Toronto's Oracle Cloud Service Provider Cloudworks For Undisclosed Sum

Accenture PLC (NYSE:ACN) acquired Toronto's Oracle Cloud implementation service provider Cloudworks.
The financial terms of the transaction remain undisclosed.
Cloudworks specializes in strategy, business, and technology consulting and gained popularity for Oracle Cloud-based solutions in Enterprise Resource Planning, Enterprise Performance Management, and Human Capital Management.
Cloudworks has capabilities in robotic process automation (RPA), data analytics, and AI, which help maximize the business value for clients' investments in Oracle Cloud.
Accenture held $10 billion in cash and equivalents as of May. 31.
Price action: ACN shares traded lower by 1.23% at $308.06 on the last check Monday.