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Definition: Accenture

(Accenture, Chicago, IL, www.accenture.com) The world's largest management and technology consulting firm, which was spun off of Arthur Andersen & Co. in 1989 as a separate entity known as Andersen Consulting. The consulting practice, which started out in the 1950s as a secondary area of expertise, grew so rapidly that by 1984 it was more profitable than the company's traditional accounting and tax business. In late 2000, Andersen Consulting changed its name to Accenture. The company had more than 90,000 employees with revenues near $12 billion in 2003.