Accenture to Snap up EPM Solutions Provider Nell’Armonia

Global professional services company Accenture (ACN) has agreed to acquire consulting and technology company Nell’Armonia. The financial details of the deal have not been disclosed.

Paris-based Nell’Armonia has expertise in providing enterprise performance management (EPM) solutions. It caters to clients across France and Israel, providing services that cover the complete EPM spectrum. These include advisory, implementation, and maintenance. The addition of Nell’Armonia will help Accenture strengthen its standing in the EPM market, while also helping its clients with their digital transformation.

Olivier Girard, Market Unit Lead, Accenture France and Benelux said, “Robust EPM capabilities that bring together data, technology, and talent are critical for creating a more dynamic, agile, and actionable performance management process.”

Girard added, “Accenture is committed to providing the best resources and capabilities to meet the needs of our clients, and the combination of Accenture and Nell’Armonia would allow us to deliver the latest, most comprehensive solutions to help organizations succeed in their EPM transformations.” (See Accenture stock analysis on TipRanks)

On May 10, Morgan Stanley analyst James Faucette reiterated a Buy rating on the stock with a $305 price target (8.1% upside potential).

After interacting with Accenture management, Faucette highlighted that the company increased its pace of European acquisitions during the pandemic to be ready for the European market recovery. These acquisitions have been in sync with Accenture’s strategy and growth plan to focus on Cloud, Industry X, Applied Intelligence, and Interactive.

Consensus among analysts is that Accenture is a Moderate Buy based on 8 Buys and 3 Holds. The average analyst price target of $301.73 implies 6.9% upside potential.

Shares have gained 39% over the past year.

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