Accenture eyes sale of Chinese operations for up to $1.5bn
Consultancy giant Accenture is eyeing a potential sale of its Chinese business operations for up to $1.5bn. The world’s largest publicly traded IT consultancy has hired JPMorgan to work on a strategic review of its Chinese business after receiving unsolicited interest in it over the past year, the Financial Times reported. Accenture’s Greater China unit [...]
Accenture, the world's largest publicly traded IT consultancy, is considering the sale of its Chinese business operations for as much as $1.5 billion. The firm has engaged JPMorgan to conduct a strategic review of its Greater China unit, following unsolicited interest over the past year. The Greater China business could be valued at up to $1.5 billion, although the sale is not guaranteed.
Potential buyers include private equity groups and strategic buyers. Accenture's Greater China operations encompass mainland China, Taiwan, and Hong Kong. The firm operates in 120 territories worldwide, with its Asia-Pacific business generating around $10 billion in revenue last year. Accenture's CFO, Angie Park, recently stated that the company has a history of exiting businesses, offerings, countries, and contracts that no longer align with its strategic goals or return expectations.
The potential sale comes after Accenture's shares surged following the release of fourth-quarter results, which exceeded revenue targets and defied predictions of an AI-induced slowdown. The company expects three to six percent full-year revenue growth in 2027 and anticipates returning at least $9.5 billion in cash to shareholders.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
