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Article: Accenture Agrees To Sell Venture and Investment Portfolio to CIBC.
- Article from:
- Business Wire
- Article date:
- August 6, 2002
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Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 6, 2002
Accenture (NYSE: ACN) today announced that it has reached an agreement to sell its venture and investment portfolio to CIBC World Markets, the investment and merchant banking arm of Toronto-based financial services company CIBC. The terms of the transaction were not disclosed.
Accenture will retain a 5 percent stake in the portfolio, which is comprised of approximately 80 early- and mid-stage technology companies, primarily in the software area. Accenture will continue its existing alliances and client relationships with companies in the portfolio. In addition, Accenture and CIBC World ...