E&Y Adds to the Flock of Big 5 Start-Up Companies | AccountingWEB

E&Y Adds to the Flock of Big 5 Start-Up Companies

The latest entry in the Big 5 divestitures arena comes to us from E&Y. The new company, EYT, is a new look for the former Ernst & Young Technologies, and is described as a standalone ASP and eSolutions integrator that implements, develops, hosts, and supports applications for clients worldwide.

The company will use its Internet-based NetSet solution to provide “complete end-to-end hosting from development to production.” In addition, the company will provide application rental and financing, critical technologies including knowledge management and training, assessment and design services, all of which EYT claims will help clients gain a competitive advantage.

EYT is banking on its size, skills and competencies in the accounting and financial services arena to compete with other large companies who also offer ASP services. EYT will offer financial and customer relationship management applications from Lawson Software and Great Plains Software.

and a solid relationship with both Ernst & Young and Cap Gemini, having signed a five-year contract ensuring EYT's customers can receive services from both companies.

EYT enters the market backed by $50 million and preferred provider relationships with E&Y and Cap Gemini Ernst & Young U.S. LLC, the latter of which has an equity interest in the new company. Jim Hunt, President and CEO of EYT was responsible for growing the systems integrater and services portion of EYT’s business from start up to over $100 million in revenue in four years. Hunt is the former Managing Director of Systems Integration for Price Waterhouse and has spent several years working in U.S. government intelligence.

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.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.