Accenture acquires Redcore in latest 2016 merger
Accenture has announced a new acquisition. According to a press release, the services business will purchase a new company soon. The source did not list the exact cost of the deal and said that the financial details "are not being disclosed."
The new business Accenture will acquire is the identity and security company Redcore. In the statement, Redcore co-founder Joseph Failla expressed interest in joining its new partner.
"We are excited to become part of Accenture Security and to bring our proven deep, highly-specialized skills and services to strengthen Accenture's IAM and other cybersecurity offerings," Failla said. "We are very proud of Redcore's wonderful team and our achievements, and we now look forward to creating an unrivalled combined cybersecurity team and launching capabilities that will change the market."
He also added that Accenture's resources will allow Redcore to evolve its own offerings.
Nasdaq said that the current IT market could make the deal less beneficial in the short term. Despite this, it predicted revenue growth in the future, based on both the previous acquisitions Accenture has made and those it could make. Its price has reportedly dipped recently while still maintaining a lead over the 2015 figures. Redcore is based in Melbourne, Australia, and was founded in 2010.
In July, Accenture purchased the open-source company Tecnilógica. CRN reported on the deal saying that it continued a trend of similar purchases of companies based around the world, including Germany, Japan and the Netherlands. All of these acquisitions have happened within 2016.
As of July 28, the company had reportedly made seven total acquisitions so far this year. The Tecnilógica deal specifically brought new personnel to the company, with 70 employees now part of Accenture. The transaction could allegedly help the business' retail operations, CRN added.