{
  "schema_version": "v2",
  "vertical": "hr_media",
  "side": "sell",
  "layout_id": "hr_media_sell_v1",
  "layout_hints": {
    "hero_component": "three_asset_split",
    "empty_state": "asset_unavailable",
    "language_frame": "seller_perspective"
  },
  "generated_at": "2026-04-09T04:58:00.446993+00:00",
  "generator": "traced_buyer_run_v2",
  "_pipeline_version": "v2.0.0-br4",
  "_llm_provenance": {
    "primary": "claude",
    "fallback_allowed": false
  },
  "llm_model_used": "claude",
  "buyer_name": "accenture",
  "buyer_slug": "accenture",
  "buyer_type": "strategic_public",
  "buyer_tier": 1,
  "buyer_city": null,
  "buyer_state": null,
  "buyer_country": "USA",
  "logo_domain": null,
  "ticker": "ACN",
  "fit_score": null,
  "financial_data": {
    "market_cap": 119.3,
    "stock_price": 193.84,
    "ttm_revenue": 69.67,
    "ttm_ebitda": 11668889000,
    "valuation_range": null,
    "confidence_by_field": {
      "market_cap": "high",
      "stock_price": "high",
      "ttm_revenue": "high",
      "ttm_ebitda": "high"
    },
    "source_url_by_field": {
      "market_cap": "https://finance.yahoo.com/quote/ACN",
      "stock_price": "https://finance.yahoo.com/quote/ACN",
      "ttm_revenue": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "ttm_ebitda": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json"
    },
    "as_of": "2025-08-31",
    "data_source": "sec_edgar",
    "confidence": "high",
    "filing_type": "10-K",
    "filing_standard": "US-GAAP",
    "last_filing_url": "https://www.sec.gov/Archives/edgar/data/1467373/000146737325000217/acn-20250831.htm",
    "cik": "0001467373",
    "ticker": "ACN",
    "company_name": "Accenture plc",
    "revenue_unit": "USD_billions",
    "market_cap_unit": "USD_billions",
    "source_urls": [
      "https://data.sec.gov/submissions/CIK0001467373.json",
      "https://www.sec.gov/Archives/edgar/data/1467373/000146737325000217/acn-20250831.htm"
    ],
    "_revenue_sidecar": {
      "value": 69672977000,
      "confidence": "high",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "tag": "Revenues",
      "unit": "USD"
    },
    "_ebitda_sidecar": {
      "value": 11668889000,
      "confidence": "high",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "tag": "OperatingIncomeLoss+DepreciationDepletionAndAmortization",
      "unit": "USD",
      "derivation": "operating_income_plus_da"
    },
    "_market_cap_sidecar": {
      "value": 119295942656,
      "confidence": "high",
      "source_url": "https://finance.yahoo.com/quote/ACN",
      "as_of": "2026-04-08",
      "provider": "yahoo_finance"
    },
    "_price_sidecar": {
      "value": 193.84,
      "confidence": "high",
      "source_url": "https://finance.yahoo.com/quote/ACN",
      "as_of": "2026-04-08",
      "provider": "yahoo_finance"
    },
    "_hr_segment_sidecar": null,
    "_ebit_sidecar": {
      "value": 10225664000,
      "confidence": "high",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "tag": "us-gaap:OperatingIncomeLoss",
      "unit": "USD",
      "derivation": "us_gaap_operating_income_direct"
    },
    "_net_debt_sidecar": {
      "value": null,
      "confidence": "missing",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "tag": "LongTermDebt - CashAndCashEquivalentsAtCarryingValue",
      "unit": "USD",
      "derivation": "us_gaap_net_debt",
      "interpretation": "Negative value indicates net cash position. Positive value indicates net debt."
    },
    "_borrowings_total_sidecar": {
      "value": null,
      "confidence": "missing",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": null,
      "tag": "LongTermDebt + LongTermDebtCurrent",
      "unit": "USD",
      "derivation": "us_gaap_debt_sum"
    },
    "_longterm_borrowings_sidecar": {
      "value": null,
      "confidence": "medium",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": null,
      "tag": "LongTermDebt",
      "unit": "USD",
      "caveat": "XBRL tag 'LongTermDebt' not found in companyfacts for ACN"
    },
    "_current_liabilities_sidecar": {
      "value": 20352097000,
      "confidence": "high",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "tag": "LiabilitiesCurrent",
      "unit": "USD"
    },
    "_noncurrent_liabilities_sidecar": {
      "value": 12801833000,
      "confidence": "high",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "tag": "LiabilitiesNoncurrent",
      "unit": "USD"
    },
    "_cash_sidecar": {
      "value": 11478729000,
      "confidence": "high",
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "tag": "CashAndCashEquivalentsAtCarryingValue",
      "unit": "USD"
    }
  },
  "financials": {
    "data_source": "sec_edgar",
    "confidence": "high",
    "market_cap": 119.3,
    "market_cap_unit": "USD_billions",
    "stock_price": 193.84,
    "ttm_revenue": 69.67,
    "revenue_unit": "USD_billions",
    "ttm_ebitda": 11668889000,
    "valuation_range": null,
    "as_of_date": "2025-08-31",
    "source_urls": [
      "https://data.sec.gov/submissions/CIK0001467373.json",
      "https://www.sec.gov/Archives/edgar/data/1467373/000146737325000217/acn-20250831.htm"
    ]
  },
  "three_asset_split": {
    "asset_a_domain": {
      "fit_score": null,
      "fit_rationale": "No buyer evidence provided for Accenture; cannot assess fit.",
      "valuation_range": {
        "low": 15000000,
        "high": 20000000,
        "point_estimate": null,
        "unit": "USD",
        "methodology_note": "Seller-provided broker range for two-letter .com",
        "confidence": "low",
        "source_urls": []
      },
      "valuation_methodology": "broker_comps_two_letter_com",
      "integration_complexity": null,
      "deal_killer": null,
      "timing_window": null,
      "approach_path": null,
      "confidence": "low",
      "source_urls": []
    },
    "asset_b_media": {
      "fit_score": null,
      "fit_rationale": "No buyer evidence provided for Accenture; cannot assess fit.",
      "valuation_range": {
        "low": 9000000,
        "high": 45000000,
        "point_estimate": null,
        "unit": "USD",
        "methodology_note": "Source: 2022 HR.com process range, per Debbie 2026-03-23",
        "confidence": "low",
        "source_urls": []
      },
      "valuation_methodology": "revenue_multiple_strategic",
      "integration_complexity": null,
      "deal_killer": null,
      "timing_window": null,
      "approach_path": null,
      "confidence": "low",
      "source_urls": []
    },
    "asset_c_platform": {
      "fit_score": null,
      "fit_rationale": "No buyer evidence provided for Accenture; cannot assess fit.",
      "valuation_range": {
        "low": null,
        "high": null,
        "point_estimate": null,
        "unit": "USD",
        "methodology_note": "Insufficient data",
        "confidence": "low",
        "source_urls": []
      },
      "valuation_methodology": "insufficient_data",
      "integration_complexity": null,
      "deal_killer": null,
      "timing_window": null,
      "approach_path": null,
      "confidence": "low",
      "source_urls": []
    }
  },
  "golden_nuggets": [],
  "sections": {
    "deal_killer": {
      "section_id": "deal_killer",
      "applicable": true,
      "reason": null,
      "primary_killer": "cfo_objection",
      "explanation": "accenture's financial profile, derived from public filings, suggests capital allocation is under scrutiny. A discretionary media acquisition at HR.com's scale may face internal CFO resistance given competing budget priorities. Evidence is inferred from financial data; no verbatim corpus quote could be verified.",
      "evidence_quotes": [],
      "confidence": "low",
      "source_urls": [
        "https://data.sec.gov/submissions/CIK0001467373.json",
        "https://www.sec.gov/Archives/edgar/data/1467373/000146737325000217/acn-20250831.htm"
      ],
      "_renderer_warnings": [
        "deal_killer: no verified corpus quotes — financial-fallback confidence is low; explanation cites financial_data source_urls."
      ]
    },
    "competitive_moat": {
      "section_id": "competitive_moat",
      "applicable": true,
      "reason": null,
      "moat_type": "data",
      "strength": "weak",
      "observed_moat_signals": [
        {
          "type": "data",
          "matched_phrases": [
            "data asset"
          ],
          "excerpt": "Combining Accenture’s expertise in accelerated and high-performance computing with Voltron Data’s large-scale data processing platform, companies can better realize the full potential of their data as",
          "source": "https://newsroom.accenture.com/news/2025/accenture-invests-in-voltron-data-to-help-organizations-use-gpu-technology-to-simplify-large-scale-data-processing"
        }
      ],
      "evidence_quotes": [
        {
          "speaker": "accenture (corpus source)",
          "text": "Combining Accenture’s expertise in accelerated and high-performance computing with Voltron Data’s large-scale data processing platform, companies can better realize the full potential of their data assets and unlock new kinds of business value.”\n\nLike Accenture, Voltron Data works with some of the largest global banks, communications, media & technology firms and governments.",
          "source_url": "https://newsroom.accenture.com/news/2025/accenture-invests-in-voltron-data-to-help-organizations-use-gpu-technology-to-simplify-large-scale-data-processing",
          "verified": true,
          "verified_reason": "high",
          "moat_type": "data",
          "matched_phrases": [
            "data asset"
          ]
        }
      ],
      "confidence": "low",
      "source_urls": [
        "https://newsroom.accenture.com/news/2025/accenture-invests-in-voltron-data-to-help-organizations-use-gpu-technology-to-simplify-large-scale-data-processing"
      ],
      "_renderer_warnings": []
    },
    "integration_post_mortem": {
      "section_id": "integration_post_mortem",
      "applicable": true,
      "prior_deals": [
        {
          "name": "accenture acquisition (2011)",
          "year": 2011,
          "outcome": "none",
          "outcome_signals": [],
          "evidence_quotes": [
            {
              "speaker": "accenture acquisition record",
              "text": "Spain). Last round was a Post-IPO Equity in January 2011, with 1 prior funding round. Recently acquired Faculty Science Ltd. and Cabel Industry S.p.A.\n\n## About\nAccenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations ",
              "source_url": "https://accenture.com/",
              "verified": true,
              "verified_reason": "high"
            }
          ]
        },
        {
          "name": "accenture acquisition (2000)",
          "year": 2000,
          "outcome": "none",
          "outcome_signals": [],
          "evidence_quotes": [
            {
              "speaker": "accenture acquisition record",
              "text": "363.04\n- Funding Rounds (2):\n - Post-IPO Equity (2001-07-01)\n - Post-IPO Equity (2011-01-01)\n- Acquired Faculty Science Ltd. (2026-01-01)\n- Acquired Cabel Industry S.p.A. (2025-12-01)\n- Acquired DLB Associates (2025-12-01)\n- Acquired Rangr Data (2025-11-01)\n- Acquired Decho (2025-10-14)\n\n## Workforc",
              "source_url": "https://accenture.com/",
              "verified": true,
              "verified_reason": "high"
            }
          ]
        },
        {
          "name": "accenture acquisition (year unknown)",
          "year": null,
          "outcome": "none",
          "outcome_signals": [],
          "evidence_quotes": [
            {
              "speaker": "accenture acquisition record",
              "text": "Accenture’s new Chief Technology Officer Dr. Marc Warner discuss the completion of Accenture’s acquisition of Faculty and its impact on the company’s AI capabilities\n\n\"As AI advances rapidly, the next few years will be hugely consequential for the world,” said Dr. Warner. “For any company that isn't",
              "source_url": "https://newsroom.accenture.com/news/2026/accenture-completes-acquisition-of-faculty",
              "verified": true,
              "verified_reason": "high"
            }
          ]
        },
        {
          "name": "accenture acquisition (2002)",
          "year": 2002,
          "outcome": "none",
          "outcome_signals": [],
          "evidence_quotes": [
            {
              "speaker": "accenture acquisition record",
              "text": "| Nasdaq\n\nSkip to main content\n\nNEW YORK--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has acquired The Shelby Group, a leading provider of digital procurement and optimization services. The acquisition further enhances Accenture’s capabilities in sourcing and procurement technology transformation. Finan",
              "source_url": "https://www.nasdaq.com/press-release/accenture-acquires-the-shelby-group-expanding-sourcing-and-procurement-transformation",
              "verified": true,
              "verified_reason": "high"
            }
          ]
        }
      ],
      "integration_pattern": "none",
      "bandwidth_exhaustion_risk": "high",
      "explanation": "Found 4 prior adjacent acquisition reference(s) for accenture in the source corpus. Bandwidth exhaustion risk is HIGH: 2 in-flight integration(s) detected in the last 24 months — absorbing HR.com simultaneously would be operationally demanding.",
      "evidence_quotes": [
        {
          "speaker": "accenture acquisition record",
          "text": "Spain). Last round was a Post-IPO Equity in January 2011, with 1 prior funding round. Recently acquired Faculty Science Ltd. and Cabel Industry S.p.A.\n\n## About\nAccenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations ",
          "source_url": "https://accenture.com/",
          "verified": true,
          "verified_reason": "high"
        },
        {
          "speaker": "accenture acquisition record",
          "text": "363.04\n- Funding Rounds (2):\n - Post-IPO Equity (2001-07-01)\n - Post-IPO Equity (2011-01-01)\n- Acquired Faculty Science Ltd. (2026-01-01)\n- Acquired Cabel Industry S.p.A. (2025-12-01)\n- Acquired DLB Associates (2025-12-01)\n- Acquired Rangr Data (2025-11-01)\n- Acquired Decho (2025-10-14)\n\n## Workforc",
          "source_url": "https://accenture.com/",
          "verified": true,
          "verified_reason": "high"
        },
        {
          "speaker": "accenture acquisition record",
          "text": "Accenture’s new Chief Technology Officer Dr. Marc Warner discuss the completion of Accenture’s acquisition of Faculty and its impact on the company’s AI capabilities\n\n\"As AI advances rapidly, the next few years will be hugely consequential for the world,” said Dr. Warner. “For any company that isn't",
          "source_url": "https://newsroom.accenture.com/news/2026/accenture-completes-acquisition-of-faculty",
          "verified": true,
          "verified_reason": "high"
        },
        {
          "speaker": "accenture acquisition record",
          "text": "| Nasdaq\n\nSkip to main content\n\nNEW YORK--(BUSINESS WIRE)-- Accenture (NYSE: ACN) has acquired The Shelby Group, a leading provider of digital procurement and optimization services. The acquisition further enhances Accenture’s capabilities in sourcing and procurement technology transformation. Finan",
          "source_url": "https://www.nasdaq.com/press-release/accenture-acquires-the-shelby-group-expanding-sourcing-and-procurement-transformation",
          "verified": true,
          "verified_reason": "high"
        }
      ],
      "confidence": "medium",
      "source_urls": [
        "https://accenture.com/",
        "https://newsroom.accenture.com/news/2026/accenture-completes-acquisition-of-faculty",
        "https://www.nasdaq.com/press-release/accenture-acquires-the-shelby-group-expanding-sourcing-and-procurement-transformation"
      ],
      "_renderer_warnings": [],
      "hr_adjacent_count": 4,
      "hr_adjacent_deals": [
        {
          "name": "accenture acquisition (2011)",
          "year": 2011
        },
        {
          "name": "accenture acquisition (2000)",
          "year": 2000
        },
        {
          "name": "accenture acquisition (year unknown)",
          "year": null
        },
        {
          "name": "accenture acquisition (2002)",
          "year": 2002
        }
      ]
    },
    "advertiser_cannibalization": {
      "section_id": "advertiser_cannibalization",
      "applicable": true,
      "cannibalization_risk": "high",
      "overlapping_advertisers": [
        "ADP",
        "G-P",
        "ERIN"
      ],
      "explanation": "accenture corpus mentions 3 known HR.com advertiser(s): ADP, G-P, ERIN. An acquisition would mean the buyer is purchasing a media property where they (or their portfolio companies) actively advertise, creating cannibalization risk: post-close, those ad budgets would flow internally rather than generating third-party revenue for the combined entity.",
      "evidence_quotes": [
        {
          "speaker": "ADP mention in buyer source corpus",
          "text": "| Change | Date |\n| --- | --- | --- |\n| Accenture | 779K | 5K | Dec/2025 |\n| ADP | 64K | 1000 | Jun/2024 |\n| Adyen | 4.2K | 864 | Dec/2023 |\n| American Express | 74.6K | 2.7K | Dec/2023 |\n| Block | 12",
          "source_url": "https://tradingeconomics.com/acn:us:employees",
          "verified": true,
          "verified_reason": "high"
        },
        {
          "speaker": "ERIN mention in buyer source corpus",
          "text": "the past year, raising fresh questions for investors about how the new offering might influence sentiment.\n\nSee our latest analysis for Accenture.\n\nThe recent Cyber.AI launch and a series of AI focu",
          "source_url": "https://simplywall.st/stocks/us/software/nyse-acn/accenture/news/accenture-acn-valuation-check-as-ai-partnerships-and-cyberai",
          "verified": true,
          "verified_reason": "high"
        }
      ],
      "confidence": "high",
      "source_urls": [
        "https://tradingeconomics.com/acn:us:employees",
        "https://simplywall.st/stocks/us/software/nyse-acn/accenture/news/accenture-acn-valuation-check-as-ai-partnerships-and-cyberai"
      ],
      "_renderer_warnings": []
    },
    "pe_clock_ipo_window": {
      "section_id": "pe_clock_ipo_window",
      "applicable": false,
      "reason": "not_pe_backed",
      "status": "public",
      "pe_firm": null,
      "years_into_hold": null,
      "typical_hold_years": null,
      "urgency": "none",
      "ipo_window": null,
      "explanation": "accenture is a publicly traded company. PE clock analysis does not apply to public strategic buyers.",
      "evidence_quotes": [],
      "confidence": "high",
      "source_urls": [],
      "_renderer_warnings": []
    },
    "employee_retention_post_acquisition": {
      "section_id": "employee_retention_post_acquisition",
      "applicable": true,
      "reason": null,
      "risk_assessment": "unknown",
      "observed_post_acquisition_patterns": [],
      "evidence_quotes": [],
      "hrcom_tenure_concern": "Employees with 20-30 year tenure. Debbie wants them protected post-sale.",
      "confidence": "low",
      "source_urls": [],
      "_renderer_warnings": [
        "employee_retention: no retention signals found in corpus for this buyer. Absence of signal is not evidence of retention — it may mean the corpus simply doesn't cover post-acquisition employee treatment for this buyer."
      ]
    },
    "balance_sheet_financials": {
      "section_id": "balance_sheet_financials",
      "applicable": true,
      "reason": null,
      "cash_and_equivalents": 11478729000,
      "total_debt": null,
      "longterm_debt": null,
      "net_debt": null,
      "net_debt_interpretation": "unknown",
      "leverage_ratio_net_debt_to_ebitda": null,
      "leverage_health": "unknown",
      "acquisition_capacity_vs_hrcom": "immaterial",
      "ebit_ttm": 10225664000,
      "ebit_as_ebitda_proxy": false,
      "credit_rating": null,
      "credit_rating_agency": null,
      "credit_rating_source": null,
      "credit_rating_source_tier": null,
      "leverage_from_rating": null,
      "ratings_confidence": "missing",
      "evidence_quotes": [],
      "source_url": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001467373.json",
      "as_of": "2025-08-31",
      "confidence": "low",
      "_renderer_warnings": []
    },
    "cultural_red_flags": {
      "section_id": "cultural_red_flags",
      "applicable": false,
      "reason": "no_cultural_signals_in_corpus",
      "ceo_vision_summary": "unknown",
      "ceo_vision_confidence": "missing",
      "red_flags": [],
      "culture_risk": "unknown",
      "evidence_quotes": [],
      "confidence": "missing",
      "source_urls": [],
      "_renderer_warnings": [
        "cultural_red_flags: no cultural or red-flag signals found in corpus for this buyer. Absence of signal is not evidence of no culture issues — it may mean the corpus doesn't cover cultural narrative for this buyer."
      ]
    },
    "strategic_positioning": {
      "section_id": "strategic_positioning",
      "applicable": true,
      "reason": null,
      "ma_appetite": "opportunistic",
      "ma_cadence_count": 4,
      "recent_24mo_count": 0,
      "hr_adjacent_count": 4,
      "hr_adjacent_deals": [
        {
          "name": "accenture acquisition (2011)",
          "year": 2011
        },
        {
          "name": "accenture acquisition (2000)",
          "year": 2000
        },
        {
          "name": "accenture acquisition (year unknown)",
          "year": null
        },
        {
          "name": "accenture acquisition (2002)",
          "year": 2002
        }
      ],
      "strategic_gaps": [
        {
          "gap": "active_in_adjacent_space",
          "rationale": "Buyer has 4 prior HR-adjacent acquisitions. HR.com extends a proven M&A thesis.",
          "source": "integration_post_mortem"
        },
        {
          "gap": "network_moat_gap",
          "rationale": "Buyer's existing moat is data. HR.com's community/network-effect asset complements rather than overlaps.",
          "source": "competitive_moat"
        }
      ],
      "positioning_rationale": [
        "integration_bandwidth_exhaustion_risk=high: management capacity stretched",
        "4 historical deals + capacity=immaterial"
      ],
      "rendered_signals": [
        {
          "source_section": "integration_post_mortem",
          "source_field": "prior_deals",
          "value": 4
        },
        {
          "source_section": "balance_sheet_financials",
          "source_field": "acquisition_capacity_vs_hrcom",
          "value": "immaterial"
        },
        {
          "source_section": "competitive_moat",
          "source_field": "moat_type",
          "value": "data"
        }
      ],
      "evidence_quotes": [],
      "confidence": "high",
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