Accenture May Hop on IPO Bandwagon | AccountingWEB

Accenture May Hop on IPO Bandwagon

Accenture, the firm formerly known as Andersen Consulting, is reflecting on the success of the recent KPMG Consulting IPO and considering a public offering of its own. Reports in the Financial Times indicate that the firm is considering an initial offering of 10% of its equity, which could raise as much as $2 billion, while keeping the remaining ownership of the firm safe in the hands of its partners.

The firm hopes to decide within two months whether or not it will make the public offering. Goldman Sachs and Morgan Stanley Dean Witter are front-runners to handle the possible IPO.

Andersen Worldwide divested itself of its consultancy arm last year in a court battle that left the consulting group free to pursue its own interests, but in search of a new name. The company became known as Accenture as of January 1, 2001.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.