Consulting giant Accenture (NYSE: ACN) has entered into an agreement to acquire Santa Ana-based Anser Advisory, a management company for U.S. infrastructure projects. Terms of the acquisition weren’t disclosed.
Accenture said the acquisition will enhance its ability to help companies and state and local public sector organizations complete large, long-term infrastructure projects more predictably and efficiently. The move will help the company expand into a total addressable market of $88 billion in North America, Accenture said.
“By joining Accenture, we will be able to provide new value and scale to our clients to support their missions and opportunities for our people to grow their careers at one of the world’s most prestigious companies,” Anser Chief Executive Bryan Carruthers said in a statement.
Founded in 1996, Anser has approximately 1,200 employees across 13 states. Accenture will acquire the Anser Advisory brand with its approximately 920 employees working on private sector and state and local public projects. Markon Solutions, a 280-people Anser Advisory subsidiary working with US federal clients, will be retained by Sterling Investment Partners and Markon Solutions management.
Shares of Accenture fell 1.6% to $315.77 in midday trading and a $200 billion market cap.