EDS to sell off IT consultancy

Electronic Data Systems is planning to sell its loss-making IT consultancy business AT Kearney.

Electronic Data Systems is planning to sell its loss-making IT consultancy business AT Kearney.

EDS bought AT Kearney for around $600m (£324m) 10 years ago, and was previously thought to be considering a management buyout to offload the business.

EDS said a straight sale was now being planned, with the goal of completion this autumn.

A report in the Wall Street Journal said AT Kearney could go to US-based Monitor Group, which has a turnover of around $300m – only half of what EDS paid for AT Kearney.

Last year AT Kearney had sales of $806m and accounted for only 4% of EDS’s $20.6bn revenues. The consultancy lost $10m.

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