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.