September 15, 2016 / 6:45 AM / 3 years ago

Accenture intends to acquire Octo Technology at 22.50 euros/share

Office of Accenture in downtown Helsinki April 27, 2011. REUTERS/LEHTIKUVA/Jussi Nukari

(Reuters) - Accenture (ACN.N) intends to acquire a 47.7 percent stake in French service consultancy firm Octo Technology ALOCT.PA, the company said in a statement on Thursday.

Accenture plans to buy the stake at 22.50 euros per share, a premium of 43.8 percent on Octo’s Wednesday closing price. Once completed, the consultancy and outsourcing company plans to file a voluntary cash tender offer for the acquisition of the remaining Octo shares.

The tender offer values Octo Technology on a fully diluted basis at approximately 115 million euros.

(Refiles to change day to Thursday in first paragraph)

Reporting by Wout Vergauwen; editing by Susan Thomas

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