Accenture PLC (NYSE:ACN) is reportedly working on a potential sale of its Greater China operations that could value the unit at up to $1.5 billion, a move that could leave the IT consultancy with a significant minority stake.
JPMorgan Runs the Review
The company has hired JPMorgan Chase & Co. (NYSE:JPM) for a strategic review of the business after receiving unsolicited interest over the past year, the Financial Times reported, citing people familiar with the matter.
The process is likely to draw private equity groups and a small cluster of strategic buyers, and Accenture may keep a significant minority stake to ensure continuity for clients.
There is no guarantee the review leads to a deal.
Accenture and JPMorgan did not immediately respond to Benzinga’s request for comment.
Asia Pacific Grows
Accenture’s Asia Pacific region, which includes Taiwan, Hong Kong, and mainland China, generated $2.67 billion of its $18.7 billion in fiscal fourth-quarter revenue, up 3% in U.S. dollars and 7% in local currency.
Analysts expect AI to help Accenture the way offshoring and cloud did, by cutting costs and replacing some IT services while stimulating demand for business services.
Investor Day Sets Growth Targets, Exit Discipline
At its Investor Day last week, Accenture guided to mid-single-digit revenue growth in fiscal 2027 and 2028, accelerating to mid- to high-single-digit growth in fiscal 2029.
Chief Financial Officer Angie Park said the company holds itself to return thresholds across the business, including “exiting businesses, offerings, countries, contracts, that no longer meet our strategic or return thresholds.”
However, Park did not mention China.
Price Action: On Friday, the stock closed 2.12% higher at $229.68 and edged up by 0.16% to $230 in early pre-market trading on Monday.
Accenture shares have fallen 14.39% year-to-date and 1.85% over the past year.
Benzinga Edge rankings indicate Accenture’s stock has a Momentum score in the 88th percentile and a Growth score in the 16th percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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