Andersen Consulting Partners Agree To Accelerate Execution Of Strategy
Annual Meeting Concludes with Commitment to Investigate Feasibility
of Partial Public Offering
WELLINGTON, October 19, 2000 – At a meeting in Miami last week, the 2,500 partners of Andersen Consulting reaffirmed the
firm’s strategy and committed to accelerate its progress. To do so, the partners agreed to proceed with the analytical,
legal, financial, regulatory and other work around the world necessary to give the partners an understanding of a
partial public offering option.
Joe W. Forehand, managing partner & CEO, said, “We are creating one of the world’s greatest companies, capable of delivering unprecedented value to our
clients. As part of that process, we will investigate whether a partial public offering will help us accelerate our
strategy while preserving the best qualities of our partnership and the vital entrepreneurial spirit that have made our
firm successful.”
Under its strategy, the firm is delivering an expanded range of solutions and services to clients through its consulting
and outsourcing business, operating companies, alliances and investments in ventures that employ innovative new
technologies and business models. It has more than 100 alliances that extend its client service capabilities. In the
last 12 months, the firm has established 25 Business Launch Centres, launched four operating companies, such as Avanade
with Microsoft, and invested in 33 companies through AC Ventures, its venture capital unit. In Miami, the partners
expressed support for the strategy and for actions that would allow the firm to quicken the pace of progress through
greater access to capital.
Andersen Consulting’s existing legal structure is a series of connected partnerships around the world. At the core of
its activities is a global consulting organisation with deep reservoirs of industry knowledge, technological expertise
and strategic insight. In addition, the firm is forging a series of landmark ventures, operating companies, and
alliances that interact with the consulting business to develop and deliver the latest business solutions. Through the
firm’s investments in emerging technologies and business approaches, it seeks to offer clients immediate access to early
developments from the frontlines of the new economy.
About Andersen Consulting
Andersen Consulting is a US$8.9 billion management and technology consulting organisation that is reinventing itself to
become the market maker, architect and builder of the new economy, bringing innovations that improve the way the world
works and lives. More than 65,000 professionals in 48 countries deliver a wide range of specialised capabilities through
service lines to clients across all industries. The firm's network of businesses provides a range of services including
venture funding, business incubation and launch, consulting, technology and alliances. In Australia and New Zealand,
over 1800 people are employed, with revenue of AUD$323 million in 1999. Our web site address is www.ac.com. On January
1, 2001, the firm will enter the next century with a new name, marking its wholly independent status and reflecting the
firm's bold new approach to serving its clients.
Renamed. Redefined. Reborn. 01.01.01
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Media Contacts:
Sally Siebold Tracy Dillimore
Andersen Consulting Network Communications
Ph: (0061 02) 9005 5403 Ph: 025 405 595
Email: sally.j.siebold@ac.com Email: tracy.dillimore@networkpr.com