Accenture Seeks to Expand in Middle East With Al Faisaliah Buy
Accenture (NYSE:ACN) plans to buy a majority stake in Saudi Arabia's leading information technology services company, Al Faisaliah Business & Technology, in an effort to enhance its capabilities in that region. While no financial details were disclosed, the Dublin-based management consulting, technology services and outsourcing company said the deal is slated to close within 90 days pending customary closing requirements. Strengthening our presence in Saudi Arabia is a priority for Accenture, said Omar Boulos, managing director of Accenture in the Middle East. As always, our focus will be on providing our clients with the support they need to meet their business goals. Once the transaction is completed, Accenture said it will leverage Al Faisaliahs enterprise architecture, systems implementation and technology consulting skills, with Accentures management consulting and technology and outsourcing experience, to strengthen its position in the Middle East market.