Accenture intends to acquire 47.7% in Octo Technology

Global consultancy and outsourcing company Accenture has announced plans to acquire substantial stake in Octo Technology, a French service consultancy firm. In a statement, Accenture said it intends to buy 47.7% stake in Octo Technology at EUR22.50 per share. Once the acquisition is completed, Accenture said it plans to file a voluntary cash tender offer to acquire the remaining shares of Octo. The supervisory board of Octo unanimously supports the transaction and has appointed Ledouble SAS to act as an independent expert to issue a formal statement confirming the fairness of the tender offer. Octo specializes in digital transformation and software development operating in five countries.