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BUSINESS
November 22, 1999 | KAREN KAPLAN
Andersen Consulting sued Computer Sciences Corp. last week for allegedly failing to pay $10 million for work on a computer systems outsourcing project. Chicago-based Andersen and El Segundo-based CSC are partners in the Pinnacle Alliance, a seven-year project begun in 1996 to manage the computer systems for JP Morgan. A CSC spokesman said the company doesn't comment on pending litigation but that an accusation of this type is "not common."
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BUSINESS
June 27, 2002 | Dow Jones/Associated Press
KPMG Consulting Inc. agreed to bring on board 140 partners and 1,400 workers from the U.S. consulting arm of troubled rival Arthur Andersen in a deal worth about $63 million. KPMG, based in McLean, Va., said it expects the latest deal to add $65 million to revenue in the first quarter of fiscal 2003. KPMG posted revenue of $2.9 billion in fiscal 2001, which ended last June 30. The move falls under a plan KPMG announced in May to acquire up to 23 independent Andersen consulting units.
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BUSINESS
May 9, 2002 | HERBERT G. McCANN, ASSOCIATED PRESS
KPMG Consulting Inc. plans to acquire as many as 23 business consulting units of Andersen Worldwide's member firms for up to $284 million, KPMG said Wednesday. KPMG said it had signed a letter of intent that covers the consulting business of Andersen member firms in the United States, Europe, Asia and Latin America. Those businesses had combined revenue of about $1.4 billion last fiscal year. KPMG already has acquired Andersen's consulting business in Hong Kong and China.
BUSINESS
December 18, 1997 | Associated Press
Partners of Andersen Consulting, the world's largest business consulting group, have voted overwhelmingly in favor of breaking from parent company Andersen Worldwide. More than 1,000 partners voted to request an arbiter to resolve disputes with Andersen Worldwide and its accounting unit, Arthur Andersen. The move caps a bitter rift between the firm's accounting and consulting partners. For the fiscal year ended Aug. 31, Andersen Consulting posted worldwide revenue of $6.
BUSINESS
August 8, 2000 | JACK REERINK, REUTERS
An international arbitrator Monday ended a long-standing dispute between Arthur Andersen and its sister firm Andersen Consulting, ruling that the profitable consulting arm can run its own show without any future payments to the accounting firm. Both sides claimed victory after the ruling by a Paris-based arbitrator, but Arthur Andersen's chief executive resigned hours after the decision came down.
BUSINESS
June 27, 2002 | Dow Jones/Associated Press
KPMG Consulting Inc. agreed to bring on board 140 partners and 1,400 workers from the U.S. consulting arm of troubled rival Arthur Andersen in a deal worth about $63 million. KPMG, based in McLean, Va., said it expects the latest deal to add $65 million to revenue in the first quarter of fiscal 2003. KPMG posted revenue of $2.9 billion in fiscal 2001, which ended last June 30. The move falls under a plan KPMG announced in May to acquire up to 23 independent Andersen consulting units.
BUSINESS
August 18, 2001 | Associated Press
Accenture Ltd. will slash 1,500 jobs, or about 2% of its work force, the second round of layoffs at the giant consulting firm this year as it continues to contend with the global economic slowdown. Accenture, which was formerly named Andersen Consulting, said about 1,000 consultants will be cut in the United States, and the remaining 500 jobs will include support positions worldwide.
BUSINESS
July 20, 2001 | Bloomberg News
Accenture (ACN) shares rose 4.6% in their first day of trading on the New York Stock Exchange on Thursday, closing at $15.17, up 67 cents from the $14.50 offering price. The consulting company, formerly known as Andersen Consulting, had been seeking a price range of $13 to $15. It was the fifth-biggest IPO of the year and the second consulting company. KPMG Consulting Inc. (KCIN) went public in a $2-billion offering in February.
BUSINESS
August 18, 2001 | Associated Press
Accenture Ltd. will slash 1,500 jobs, or about 2% of its work force, the second round of layoffs at the giant consulting firm this year as it continues to contend with the global economic slowdown. Accenture, which was formerly named Andersen Consulting, said about 1,000 consultants will be cut in the United States, and the remaining 500 jobs will include support positions worldwide.
BUSINESS
July 20, 2001 | Bloomberg News
Accenture (ACN) shares rose 4.6% in their first day of trading on the New York Stock Exchange on Thursday, closing at $15.17, up 67 cents from the $14.50 offering price. The consulting company, formerly known as Andersen Consulting, had been seeking a price range of $13 to $15. It was the fifth-biggest IPO of the year and the second consulting company. KPMG Consulting Inc. (KCIN) went public in a $2-billion offering in February.
BUSINESS
August 8, 2000 | JACK REERINK, REUTERS
An international arbitrator Monday ended a long-standing dispute between Arthur Andersen and its sister firm Andersen Consulting, ruling that the profitable consulting arm can run its own show without any future payments to the accounting firm. Both sides claimed victory after the ruling by a Paris-based arbitrator, but Arthur Andersen's chief executive resigned hours after the decision came down.
BUSINESS
November 22, 1999 | KAREN KAPLAN
Andersen Consulting sued Computer Sciences Corp. last week for allegedly failing to pay $10 million for work on a computer systems outsourcing project. Chicago-based Andersen and El Segundo-based CSC are partners in the Pinnacle Alliance, a seven-year project begun in 1996 to manage the computer systems for JP Morgan. A CSC spokesman said the company doesn't comment on pending litigation but that an accusation of this type is "not common."
BUSINESS
December 18, 1997 | Associated Press
Partners of Andersen Consulting, the world's largest business consulting group, have voted overwhelmingly in favor of breaking from parent company Andersen Worldwide. More than 1,000 partners voted to request an arbiter to resolve disputes with Andersen Worldwide and its accounting unit, Arthur Andersen. The move caps a bitter rift between the firm's accounting and consulting partners. For the fiscal year ended Aug. 31, Andersen Consulting posted worldwide revenue of $6.
BUSINESS
December 12, 1996 | From Associated Press
DuPont Co. on Wednesday said it will contract out computer work to Computer Sciences Corp. and Andersen Consulting in an arrangement that the leading chemical company valued at more than $4 billion over 10 years. The deal will move almost three-quarters of DuPont's 4,200 information systems workers to the two contracting companies.
BUSINESS
December 12, 1996 | From Associated Press
DuPont Co. on Wednesday said it will contract out computer work to Computer Sciences Corp. and Andersen Consulting in an arrangement that the leading chemical company valued at more than $4 billion over 10 years. The deal will move almost three-quarters of DuPont's 4,200 information systems workers to the two contracting companies.
BUSINESS
May 9, 2002 | HERBERT G. McCANN, ASSOCIATED PRESS
KPMG Consulting Inc. plans to acquire as many as 23 business consulting units of Andersen Worldwide's member firms for up to $284 million, KPMG said Wednesday. KPMG said it had signed a letter of intent that covers the consulting business of Andersen member firms in the United States, Europe, Asia and Latin America. Those businesses had combined revenue of about $1.4 billion last fiscal year. KPMG already has acquired Andersen's consulting business in Hong Kong and China.
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