NEW YORK and OSLO; March 26, 2004 – Accenture (NYSE: ACN) has signed a letter of intent with Telenor under which Accenture will provide applications management and development services to Telenor.
Once the agreement is finalized, Accenture, Telenor and EDB Business Partner, a Norwegian IT services company majority-owned by Telenor, will also form an alliance to provide infrastructure, networking, applications and business process services and solutions to enterprise clients in the Nordic market.
“The agreements mark another important step in the long-term relationship between Telenor and Accenture,” said Nils Øveraas, country managing director for Accenture in Norway. “Through our collaboration with EDB Business Partner, we will enhance our applications management and development services capabilities, enabling us to more effectively deliver integrated end-to-end solutions to large enterprise clients in the Nordic region.”
In support of the agreement, Accenture plans to acquire assets from EDB Telecom, the telecommunications-applications division of EDB Business Partner, for approximately US$50 million. In addition, approximately 360 EDB Telecom employees are expected to transition to Accenture under the same terms of employment they currently have with EDB.
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With approximately 86,000 people in 48 countries, the company generated net revenues of US$11.8 billion for the fiscal year ended Aug. 31, 2003. Its home page is www.accenture.com.