Andersen Consulting Invests Heavily in Online Ventures

In an effort to entrench itself even deeper in the lucrative world of dot.coms and related consulting, Andersen Consulting [1] has announced that it will invest as much as $1 billion over the next five years to to create Internet and electronic-oriented companies.

The new company, known as Andersen Consulting Ventures, will start with $500 million in funding from Andersen Consulting. The remaining $500 million will be sourced from other investors and venture capital firms.

This move mirrors the ones made by other Big 5 firm rivals in an attempt to keep up with the many small businesses who have found the Internet-related businesses to be a cash cow.