Accenture (NYSE:ACN) has strengthened its cybersecurity presence in Spain with the acquisition of Innotec Security. The move is aimed at enhancing Accenture’s cyber resilience, infrastructure and application security, cyber intelligence, and incident management capabilities across Spain.
Innotec Security, led by CEO Félix Muñoz, operates from Madrid with additional locations in Barcelona, Seville, and the Basque Country. The company serves diverse sectors such as financial services, energy, logistics, healthcare, transportation and the public sector. It is recognized for its cyber risk assessment services along with threat simulation, detection, and security consulting.
The acquisition adds 500 professionals to Accenture’s global team of 20,000 cybersecurity experts. This addition solidifies Accenture’s position as a leading managed security service provider in Spain.
Paolo Dal Cin, the lead at Accenture Security, sees the acquisition as a regional growth opportunity. On the other hand, Innotec’s CEO Félix Muñoz views it as an opportunity to enhance client value.
The financial details of the acquisition were not disclosed. The move is expected to boost Accenture’s managed security offerings for Spanish firms in finance and energy sectors and bolster its European presence.
InvestingPro Insights
Accenture (ACN) continues to show strong financial performance, as reflected in its key metrics. With an adjusted market capitalization of $196.75 billion, the company’s P/E ratio stands at 29.01 as of Q4 2023. The adjusted P/E ratio for the last twelve months of 2023 is 24.63, indicating a healthy earnings outlook. Moreover, the company’s revenue growth for the same period was 4.09%, showing a steady increase in earnings.
InvestingPro Tips suggest that Accenture boasts high earnings quality, with its free cash flow exceeding net income. This is a strong indicator of the company’s financial health and its ability to generate cash. Additionally, the company yields a high return on invested capital, suggesting efficient use of its resources to generate profits.
Accenture’s consistent increase in earnings per share and a history of raising its dividend for 4 consecutive years further underline its strong financial position. The company’s performance over the last decade has been remarkable, delivering high returns for its stockholders.
