Accenture plc (ACN) said it is enhancing its capabilities in the Middle East through an agreement to form a joint venture with Saudi Arabia-based Al Faisaliah Group through the acquisition of a majority stake in Al Faisaliah Business & Technology Company or FBTC, an Al Faisaliah unit.
Following the completion of the transaction, Accenture said that its position in the Middle East market would 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.
Omar Boulos, managing director of Accenture in the Middle East noted, "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." The transaction is expected to close within 90 days.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.