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Accenture Rolls Out Accenture Cloud First With $3 Bln Investment Over Three Years - Quick Facts

Professional services company Accenture plc (ACN) announced Thursday the formation of Accenture Cloud First with a $3 billion investment over three years to help clients across all industries rapidly become "cloud first" businesses and accelerate their digital transformation to realize greater value at speed and scale.

Karthik Narain will lead Accenture Cloud First and join the Global Management Committee, effective October 1. Narain most recently served as the lead for Accenture Technology in North America, helping guide Global 2000 brands in using the power of the cloud and other technologies to transform their businesses.

The move is expected to create new model for rapid migration to the cloud and realization of value for clients and their stakeholders. More than 100,000 Accenture cloud professionals help clients shape, move, build and operate their businesses in the cloud.

COVID-19 has created a new inflection point that requires every company to dramatically accelerate the move to the cloud as a foundation for digital transformation. This announcement comes as worldwide demand for cloud computing has skyrocketed due to the COVID-19 pandemic.

This new group integrates Accenture's wide-ranging cloud expertise, including cloud migration, infrastructure, and application services and ecosystem partnerships.

According to Gartner, the worldwide public cloud services market is forecast to grow 6.3% in 2020 to total $257.9 billion, up from $242.7 billion in 2019.

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