• Accenture PLC (NYSE: ACN) agreed to acquire HRC Retail Advisory, a retail-focused strategy consultancy with critical in-demand skills and solutions to help clients across the retail value chain.

• The financial terms of the transaction remain undisclosed.

• HRC Retail Advisory's team of over 30 people across North America will join Accenture's Retail Strategy group. The addition of HRC Retail Advisory will further strengthen Accenture's retail strategy and consulting services, Accenture Senior MD Jill Standish stated.

• Accenture held $10 billion in cash and equivalents as of May. 31.

• Redburn analyst Neil Steer upgraded Accenture to Buy from Neutral.

• Steer noted that the IT investment was developing stronger than anticipated, fueled by a necessity for companies to digitally transform and achieve the flexibility required for evolving business models. This structural change should drive longer-term growth in demand for well-positioned providers, Steer adds.

• Price action: ACN shares traded lower by 0.88% at $316.14 on the last check Tuesday.

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