British multinational telecommunications Vodafone has announced its intention to form a strategic partnership with Accenture, confirming their goals in a Memorandum of Understanding (MoU).
The partnership will "commercialize Vodafone's shared operations to accelerate growth, enhance customer service and drive significant efficiencies for Vodafone's operating companies and partner markets, as well as create new career opportunities for its people."
The partnership will specifically develop Vodafone's internal IT and networking unit, "Vodafone Intelligent Solutions" (VOIS), which supports Vodafone's operating units and service provider partners and employs over 31,000 people across the globe. This will be accomplished through the use of Accenture's digital solutions and platforms, as well as their AI expertise.
Accenture will invest €150 million in VOIS as part of the partnership, giving them an undisclosed stake in the company. Vodafone will retain control and majority ownership of the business unit.
"Today's announcement is a significant development for Vodafone as we change and simplify the way we work to better serve our customers and drive growth," according to the Group CEO of Vodafone, Margherita Della Valle.
"This move speaks to their ambition to work in entirely new ways, reduce structural complexity, open avenues for growth, create better experiences for their customers and provide additional career paths for their people," Chair and CEO of Accenture, Julie Sweet, said in a statement.
According to the press release, the collaboration will leverage both companies' brands, investments, scale, strengths and expertise to create a more agile and efficient organization that will allow its strategy to focus on customers, simplicity and growth.
The partnership is subject to the completion of final agreements, which are expected to be completed in the spring of next year.
