Vodafone unveils tie-up with Accenture to power phone giant's reinvention

By Giles Gwinnett

15 November 2023

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Accenture will invest €150 million in the new entity

Newbury - headquartered Vodafone has announced a tie-up with partner Accenture to create a new unit to build on the telecom giant's shared services business 'Vodafone Intelligent Solutions' and create a "scaled, commercially driven and more efficient organisation".

The new unit will use Accenture's world class technology and transformation services such as its digital solutions and platforms, and deep artificial intelligence (AI) expertise.

Accenture will invest €150 million in the new entity to gain an undisclosed minority interest.

"We are proud to have partnered with Vodafone for over 20 years across many strategic programs. We are excited to take our partnership to a new level with this ground-breaking joint venture that will help power Vodafone's reinvention and create significant value for their operating companies, partner markets and employees," said Julie Sweet, the chair and CEO Accenture.

Margherita Della Valle, Vodafone's group CEO, added: "The partnership with Accenture opens up new opportunities for our company and our people.

"We're excited about the potential of our new commercial shared services organisation and the potential to serve not only Vodafone's own markets but our Telco partners across the industry."

On November 14, Vodafone also released its fiscal 2024 first half results, which showed improved revenue growth.

Della Valle told investors: "During the first half of the year, we have delivered improved revenue growth in nearly all of our markets and have returned to growth in Germany in the second quarter.

"Vodafone's transformation is progressing. Our focus on customers and simplifying our business is beginning to bear fruit, although much more needs to be done. We have also announced transactions to strengthen our position in the UK and exit the challenging Spanish market in order to right-size our portfolio for growth," she said.

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By Giles Gwinnett

Giles Gwinnett is a writer at The Business Magazine. He has been a journalist for more than 20 years and covered a vast array of topics at a range of media settings - in print and online. After his NCTJ newspaper training, he became a reporter in Hampshire before moving to a news agency in Gloucestershire. In recent years, he has been covering the financial markets along with company news for an investor-focused web portal. His many interests include politics, energy and the environment. He lives in Dorset.