IT services provider Accenture will invest approximately €150 million for a minority stake in Vodafone’s leading shared services unit, Vodafone Intelligent Solutions, aiming to establish a commercially driven, efficient organization.
Vodafone retains the majority interest, management control, and sourcing decisions.
Margherita Della Valle, Group CEO of Vodafone, emphasized the significance of this development in simplifying and enhancing the company’s operations. “We’re excited about the potential of our new commercial shared services organization and the potential to serve not only Vodafone’s own markets but our Telco partners across the industry.”
Accenture, a technology partner of Vodafone for over two decades, expressed enthusiasm about elevating the collaboration to a new level. Julie Sweet, Chair and CEO of Accenture, highlighted the venture’s potential to power Vodafone’s reinvention and create significant value for its operating companies, partner markets, and employees.
The strategic partnership will leverage Accenture’s technology and transformation services, including digital solutions, platforms, and AI expertise. Moreover, Accenture’s renowned learning capabilities will continuously develop new skilling and career paths for the workforce.
Vodafone and Accenture have signed a Memorandum of Understanding, with the definitive agreements expected to be completed in the Spring of 2024. The services portfolio resulting from the partnership is poised to empower Vodafone’s transformation, emphasizing customer-centricity, simplicity, and sustained growth.