Accenture completes acquisition of 47.4% holding in OCTO
Accenture said it has completed the the acquisition of a 47.4% shareholding in OCTO Technology on a fully diluted basis. The completion of the acquisition follows the clearance from the competent regulatory authorities and the consultation of OCTO's works council. The supervisory board of OCTO met on November 24, 2016. OCTO appointed the firm Ledouble as an independent expert to deliver a report regarding the financial terms of the voluntary tender offer, which it concluded was fair. As a result, the OCTO supervisory board unanimously concluded that the Offer was in the best interest of OCTO, its shareholders and its employees and decided therefore to recommend to OCTO's shareholders and equity warrant holders to tender their securities to the Offer. In connection with the completion of the acquisition, two representatives of Accenture have joined the supervisory board of OCTO: Christian Nibourel, country managing director for Accenture in France and Benelux and Jean-Pierre Bokobza, senior managing director, Accenture Digital. Mr. Nibourel has also been elected Chairman of the board.