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

  • Accenture PLC 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.
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