Andersen's IT arm a takeover target
The IT consultancy arm of Andersen's may soon be up for grabs, as trouble continues to engulf the accountancy firm, according to analysts Ovum Holway.
The IT branch of the beleaguered accounting firm is worth around £85m and would make a good takeover target for one of Andersen’s competitors.
‘Andersen’s IT arm is an attractive and sizeable business,’ said Antony Miller, research manager at Ovum Holway. ‘It would be a tasty acquisition for four of the big five [accounting firms].’
Andersen’s former sister company Accenture could prove to be a good home for the IT practice: ‘The culture is similar, it would be a home away from home for them,’ said Miller.
Eighteen months ago management consultant Accenture – formally Andersen Consulting – broke away from what was then Arthur Andersen.
Potential buyers outside the big five include Logica and Cap Gemini Ernst and Young, and some American firms, according to Miller.
Andersen declined to comment on the future of its IT division.