Accenture to acquire majority stake in DLB

Accenture (ACN) announced that it has signed an agreement to acquire a majority stake of 65% in US-based AI data center engineering and consulting firm DLB Associates and its affiliated companies. The transaction will expand Accenture’s end-to-end data center capabilities in order to help software and platforms and high tech clients accelerate time to market and meet demand for the enablement of AI, Accenture said in a statement, adding that upon the closing of the transaction, DLB’s approximately 620 employees, led by David Quirk and Neil Chauhan, will join forces with Accenture’s Industry X practice. The terms of the transaction were not disclosed. Closing of the transaction is subject to customary closing conditions, including the receipt of required regulatory approvals.