Accenture (NSE: ACN) is to acquire Japanese data science company Albert, Inc. (Tokyo Stock Exchange Growth Market, Securities Code: 3906), after completing a tender offer.
The amount of the deal was not disclosed. The tender offer was launched on September 29 and closed on November 14. The number of Albert’s common shares and stock acquisition rights tendered to Accenture significantly exceeds the threshold required for the company to become part of Accenture, equal to two thirds of its stock. Upon completion of the transaction, Albert will be part of Accenture. Accenture expects to purchase all remaining shares and stock acquisition rights in the coming months, after which the company will be delisted from the Tokyo Stock Exchange.
The acquisition will add a large team of data scientists to Accenture to further strengthen its data and AI capabilities for clients.
Founded in 2005 and led by President and CEO Takeshi Matsumoto, Albert offers AI and big data analytics services, AI-based algorithm development, AI implementation consulting, and data science training support, primarily to major corporations in Japan. Its data science team of 250 permanent employees and contractors will join Accenture’s Applied Intelligence practice, which provides AI and data-led transformation solutions and services.
FinSMEs
15/11/2022