KPMG Consulting Files for $1 Billion IPO
In yet another effort to capture a larger piece of the pie, another Big 5 consulting firm has made the news, this time by filing for a $1 billion IPO.
The firm is KPMG Consulting, Inc., whose main gig is to help companies with their Web strategies. The money gained from shares of stock will be used by the firm to provide working capital, repurchase preferred stock and repay outstanding debt.
The venture is being financed by Wall Street giant Morgan Stanley Dean Witter. KPMG Consulting is based in McLean, VA. The total number of common shares to be sold were not disclosed.