Accenture PLC (NYSE: ACN) said this week it had acquired Teamexpat, an embedded software specialist for complex high-tech products and systems, based in Eindhoven, the Netherlands.
Teamexpat specializes in software development, testing and integration for lithography systems in the semiconductor industry.
These systems make use of ultraviolet light to print the fine patterns on semiconductor materials, which define the performance of microchips.
Teamexpat’s team of software experts will become part of Accenture’s digital engineering team in the Netherlands, the company said.
Their embedded software engineering expertise is to improve Accenture’s smart, connected products capabilities for clientele in the semiconductor industry and other discrete manufacturing industries.
“Software is redefining products across the semiconductor, high tech, aerospace & defense, automotive, industrial equipment and medical technology industries,” Frank Rennings, the head of Accenture’s digital engineering and manufacturing service, Industry X, in the Netherlands, said in a press release.
“We’re witnessing a shift from mechanical engineering first to software engineering first. Teamexpat’s highly sought-after capabilities will allow us to help our Dutch and European clients in these sectors reinvent their businesses with smart, connected products and services.”
Yet, no financial details of the agreement were disclosed.
Stock Performance
The shares of Accenture PLC (ACN) closed 0.38% ($1.18) lower at $305.93 in New York on Thursday, as they reversed a gain from the previous market session.
The company’s total market cap now stands at $192.347 billion.
The shares of Accenture PLC (ACN) went up 31.50% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have retreated 12.82% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 10 out of 17 surveyed investment analysts had rated Accenture’s stock as “Buy”, while 7 – as “Hold”. The median price target on the stock stands at $382.94, which translates into a 25.17% upside compared to the closing price on Thursday.
The high point of the analyst forecast range stands at $445.00.
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