Accenture is enhancing its capabilitiesin the Middle East through a JV with Saudi Arabia-based Al Faisaliah Group (Al Faisaliah). The partnership has come about through the acquisition of a majority stake in Al FaisaliahBusiness & Technology Company (FBTC), an Al Faisaliah subsidiary.
FBTC is a recognised ERP solution provider in Saudi Arabia and provides integrated business and technology services to a wide range of clients. Once the transaction is completed, Accenture’s position in the Middle East market will be strengthened by the combination of FBTC’s enterprise architecture, systems implementation and technology consulting skills, with Accenture’s broad management consulting, technology and outsourcing experience, industry depth, focus on innovation and global delivery capabilities.
“We are delighted to be entering into this agreement with Al Faisaliah and believe the jointventure will provide an opportunity to bring together the local experience and technologyskills of FBTC with Accenture’s global network and capabilities,” says David Thomlinson, Senior MD—Geographic Strategy and Operations, Accenture. “The agreement demonstrates our commitment to the Kingdom of Saudi Arabia and enhances our ability to provide a much broader range of services for clients in the region.”
HRH Prince Mohammed K. A. Al-Faisal, president and CEO of Al Faisaliah Group, adds: “I am confident that this JV will benefit both Al Faisaliah and Accenture. Over time,we will continue to hire Saudi nationals as the needs of our business evolve. Beyond this,the joint venture will bring global best practices to the Kingdom and support the improved effectiveness and competitiveness of our customers in the private and public sectors.”
“Strengthening our presence in Saudi Arabia is a priority for Accenture,” says Omar Boulos, MD of Accenture in the Middle East. “As always, our focus will be on providing our clients with the support they need to meet their business goals. The joint venture with Al Faisaliah will accelerate the execution of our strategy and is another indicator of our commitment to the market.”
