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Accenture to launch ME operations

Riyadh, June 7, 2011

Accenture, a global management consulting, technology services and outsourcing company, said it has joined hands with Saudi-based Al Faisaliah Group to launch its operations in the Middle East region.

As per the joint venture agreement, Accenture acquired a majority stake in Al Faisaliah Business & Technology Company (FBTC), a subsidiary of Al Faisaliah, and a leading information technology services business in Saudi Arabia.

The transaction is subject to customary closing requirements and is expected to close within 90 days.

FBTC is already one of the leading Enterprise Resource Planning solution providers in Saudi Arabia and provides integrated business and technology services to a wide range of clients.

With this deal, Accenture aims to boost its position in the Middle East with a combination of FBTC’s enterprise architecture, systems implementation and technology consulting skills along with its own broad management consulting, technology and outsourcing experience, industry depth, focus on innovation and global delivery capabilities.

“We are delighted to be entering into this agreement with Al Faisaliah and believe the JV will provide an opportunity to bring together the local experience and technology skills of FBTC with Accenture’s global network and capabilities,” said David Thomlinson, Accenture’s senior managing director (Geographic Strategy & Operations).

“The agreement demonstrates our commitment to the Kingdom and enhances our ability to provide a much broader range of services for clients in the region,” he added.
 
Prince Mohammed KA Al-Faisal, president and CEO of Al Faisaliah Group, pointed out that the joint venture will benefit both Al Faisaliah and Accenture.

'Over time, we will continue to hire Saudi nationals as the needs of our business evolve. Beyond this, the JV will bring global best practices to the Kingdom and support the improved effectiveness and competitiveness of our customers in the private and public sectors,' he remarked.
 
Omar Boulos, managing director of Accenture in the Middle East, said, “Strengthening our presence in Saudi Arabia is a priority for the company.”
 
“As always, our focus will be on providing our clients with the support they need to meet their business goals. The joint venture with Al Faisaliah will accelerate the execution of our strategy and is another indicator of our commitment to the market,” he added.-TradeArabia News Service




Tags: transaction | Saudi JV | majority stake | Al Faisaliah | Accenture | management consulting |

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