Accenture, a global management consulting, technology services and outsourcing company, has completed all the formalities to take over 51% stake in Grameenphone’s IT wing GPIT.
From this month of September, the firm is responsible for the GPIT’s management.
The Accenture and Grameenphone announced the management shift yesterday.
In an e-mail earlier, Gary Morgenstern, Director of CMT Media and Analyst Relations of Accenture, told the Dhaka Tribune: “The transaction is subject to regulatory and other conditions customary in a transaction of this nature and could be completed by August.”
He was not interested in providing further details on the matter.
According to the sources concerned, although Accenture has taken the charge of management from this month, there will be no major change within the board right now.
On July 1, Grameenphone and Accenture announced that the global management company would acquire the majority shares in the GPIT.
Earlier on June 27, the mobile operator Grameenphone reached an agreement with Accenture on selling of majority shares to the latter at US$10m.
But none of Grameenphone and Accenture declared the price of shares to the press.
Grameenphone would continue to hold the remaining 49% stake in GPIT.
Accenture’s strategic investment in GPIT will enable the global management company to provide IT services to Grameenphone, Telenor and other companies in Bangladesh.
The firm generated net revenues of $27.9bn during the year ended on August 31, 2012.
On the other hand, GPIT, after having been registered on 28 January 2010, made a total profit of Tk140m in 2011 and the revenue was Tk1.18bn. In 2012, the GPIT revenue stood at Tk2.44bn and profit reached Tk226m.
