The tech consulting and outsourcing services company on Friday said it plans to spend more than $400 million to develop cloud-computing capabilities over the next 2.5 years.
Accenture is the latest of a long line of technology companies — including Oracle , SAP and Cisco Systems — scrambling to put its efforts into the cloud, a system for storing and accessing data over the Internet "cloud."
The company is looking to boost growth after posting mixed results last quarter, as IBD reported.
By 2016, global revenue from cloud services will reach $98 billion, up 145% from 2012, says market tracker IDC.
Accenture's Cloud Platform, which it officially launched Friday, is already in use in 200 projects to help customers move their operations to the cloud, Jack Sepple, global senior managing director of Accenture's cloud unit, said in the company's press release.
"We foresee the growing use of public cloud services and are uniquely positioned to offer the best of breed from a variety of vendors," he said. "We are committed to moving our extensive portfolio of cloud offerings, broad ecosystem of alliance relationships, and large global client base to the cloud in all forms — public, private and hybrid."
Accenture's shares were down a fraction in late trading in the stock market today.
source: news.investors.com
