Accenture $ACN is evaluating the sale of its large China operations; the unit’s valuation could reach $1.5 billion. This information is based on a report published by the Financial Times, citing anonymous sources.
According to the Financial Times, the IT advisory firm has appointed JPMorgan $JPM to lead a strategic review of the unit following a wave of unsolicited bids over the past 12 months.
According to the Financial Times, Accenture may remain a partial partner by retaining a significant minority stake. According to Benzinga, the company may wish to prevent disruption to the services offered to its customers by choosing this route; it is also noted that the process may not lead to a deal.
According to Reuters and Benzinga, Accenture and JPMorgan did not immediately respond to requests for comment.
According to Accenture’s website, Greater China operations include Taiwan, Hong Kong, and mainland China. The company’s Asia-Pacific region, which encompasses these markets, accounted for $2.67 billion of the $18.7 billion in revenue it recorded in the fourth quarter. This figure increased by 3% in dollar terms and 7% in local currency terms.
According to Benzinga, at the investor day held last week, Chief Financial Manager Angie Park stated that Accenture applies return thresholds to every part of its operations, and that this “also includes exiting from business units, products and services we offer, countries and contracts that no longer meet our strategic or return thresholds.” According to Benzinga, Park did not specify China.
Earlier this month, Accenture reported its fourth-quarter revenue of $18.68 billion, representing a 6% increase compared to the same period a year ago. Accenture’s stock gained more than 22% that day, recording its largest single-day rise in history. The company forecasts full-year local currency revenue growth of between 3% and 6% for fiscal year 2027.
Accenture shares closed the Friday session up 2.12% at $229.68. In early Monday pre-market trading, the stock gained 0.16%, reaching $230.
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