Original article by Edmund Tadros
The Australian Financial Review – Page: 30 : 12-Jul-17

It has been revealed that a May 2017 deal for consulting firm Accenture to acquire Sydney-based creative agency The Monkeys was worth $A63m. The Monkeys posted a net profit of $A2.45m in 2015-16 and revenue of $A21.6m. The deal is part of a growing trend for consulting firms to diversify into the advertising and marketing sector. However, WPP Group’s Sir Martin Sorrell is among those to have questioned the merits of the deal given the different corporate cultures at Accenture and The Monkeys.

CORPORATES
ACCENTURE AUSTRALIA LIMITED, THE MONKEYS PTY LTD, WPP GROUP PLC, DELOITTE TOUCHE TOHMATSU LIMITED, PRICEWATERHOUSECOOPERS, ERNST AND YOUNG, KPMG, MAUD, TELSTRA CORPORATION LIMITED – ASX TLS, QANTAS AIRWAYS LIMITED – ASX QAN, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, McKINSEY AND COMPANY, ENVISION