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Accenture files for $1B IPO

Published on .

New York--Accenture has filed with the Securities and Exchange Commission to raise as much as $1 billion in an initial public offering. Accenture would become the second Big 5 consultancy to go public; last month, KPMG Consulting Inc. raised $2 billion in an IPO. Goldman Sachs & Co. and Morgan Stanley Dean Witter & Co. will handle Accenture's IPO, for which a date hasn't been set. Consultancies are seeking to tap the capital markets to fund marketing efforts, among other things. Accenture is currently running a yearlong $175 million rebranding campaign.
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