Andersen Consulting Invests Heavily in Online Ventures

Posted by accountingweb on Dec 16 1999 186 printer friendly

In an effort to entrench itself even deeper in the lucrative world of dot.coms and related consulting, Andersen Consulting 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.

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