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Accenture says it will buy Acquity Group for $316M

NEW YORK (AP) -- Consulting firm Accenture PLC said Friday it will buy Acquity Group Ltd. for $316 million in cash.

Accenture said it will pay $13 per American depositary share for Acquity. The offer is subject to approval by Acquity shareholders.

Acquity is based in Hong Kong, and it provides e-commerce and online marketing solutions for clients' brands and platforms. The companies said it had $141 million in revenue in 2012.

Acquity went public in April 2012 with an IPO that priced at $6 per ADS, and the shares had traded between $5.54 and $11.01 in the last year. They lost 6 cents to close at $5.96 on Friday and jumped $6.60 to $12.56 in extended trading after the deal was announced.

Accenture's stock rose $1.63, or 2 percent, to $82.24 during the regular trading session and were unchanged after-market dealings.