Accenture To Acquire Cygni To Drive Cloud And Technology Innovation Solutions - Accenture (NYSE:ACN)

Accenture PLC ACN inked an agreement to acquire cloud-native full-stack development firm Cygni.
Cygni will boost the global capabilities of Accenture Cloud First under the arrangement. The financial terms of the transaction were not disclosed.
Accenture recently announced the conception of Accenture Cloud First to expand its cloud service capabilities and offerings rapidly. Accenture Cloud First integrates the company’s wide-ranging cloud expertise to fast-track the digital transformation of its clients.
The acquisition will bolster Accenture Cloud First’s ability in delivering cloud and technology innovation solutions to its clients, as per Accenture Cloud First global lead Karthik Narain.
Accenture held a cash balance of $9.2 billion as of Feb. 28, 2021.
Price action: ACN shares closed higher by 4.53% at $280.77 on Friday.