Consulting Arms of Big 5 Accounting Firms Invest in Start-Ups
These days, it seems that everyone is getting into the potentially high-profit, yet high-risk start-up arena, and the Big 5 is no exception.
Just last week on October 20, AccountingWeb ran a story in which PricewaterhouseCoopers bought into Web designers Methodfive, and now it seems that Andersen Consulting has moved in a similar fashion by buying into start-up ChemConnect, the Internet's largest global chemical and plastic exchange.
Analysts report that investments like these mark a real change from the days of providing consulting services in back office software to concentrating on e-business, especially with start-ups. Projects also cross barriers so that consulting firms can project an image of working within any organization and vertical industry.
Interestingly enough, analysts also say that consulting firms investing in these start-ups aren't in it as much for the return on investment as they are actually working within the industries.