Accenture in Talks to Buy Booz & Co.

by Christopher Freeburn | July 31, 2013 9:12 am

accenture[1]Sources tell the Wall Street Journal that Accenture (ACN[2]) is negotiating a deal to purchase privately-held consulting firm Booz & Co., though no agreement has yet been finalized[3].

Booz & Co. has a strong presence in operations consulting, a market in which Accenture would like to increase its business. If a deal is secured, it will mark just the latest acquisition by Accenture, which has already purchased two other companies this year.

Formerly a division of Booz Allen Hamilton (BAH[4]), Booz & Co. was spun off from the defense and government services contractor in 2008. The consulting business generated revenue of $1.4 billion last year, up from $1.2 billion in 2011.

Accenture’s, which competes with IBM (IBM[5]) and Hewett-Packard (HPQ[6]) in the global enterprise consulting business, posted $27.9 billion in worldwide revenue during its most recent fiscal year. The company employs 266,000 workers, compared to 3,000 for Booz & Co.

Shares of Accenture were flat in Wednesday pre-market trading.

Endnotes:

  1. [Image]: https://investorplace.com/wp-content/uploads/2013/07/accenture.jpg
  2. ACN: http://studio-5.financialcontent.com/investplace/quote?Symbol=ACN
  3. though no agreement has yet been finalized: http://online.wsj.com/article/SB10001424127887324170004578638322861944326.html
  4. BAH: http://studio-5.financialcontent.com/investplace/quote?Symbol=BAH
  5. IBM: http://studio-5.financialcontent.com/investplace/quote?Symbol=IBM
  6. HPQ: http://studio-5.financialcontent.com/investplace/quote?Symbol=HPQ

Source URL: https://investorplace.com/2013/07/accenture-in-talks-to-buy-booz-co/

Copyright ©2024 InvestorPlace unless otherwise noted.