Counselled by Skrine, US management consulting firm Accenture has acquired Malaysian consulting and digital transformation firm Aristal, which has been advised by Raja Darryl & Loh, for an undisclosed amount.
The acquisition aims to strengthen Accenture’s talent pool and capabilities, enabling the company to assist Malaysian banks in upgrading their core systems, improving their operations, and managing their large-scale changes such as mergers and system transitions.
Partners Chu Wei Tai led Raja Darryl & Loh’s legal team advising Aristal, while Skrine partner Fariz Abdul Aziz led the team acting as Malaysia counsel for Accenture.
There were no challenges or areas of confusion for Raja Darryl & Loh’s team, Tai told Asia Business Law Journal. He noted it boiled down to a question of bargaining strength at the end of the day.
The Accenture legal team negotiated strongly – something which was not unexpected, said Tai. The vendors in turn were astute and similarly drove a hard bargain, he added. This made the negotiations interesting to say the least, he added.
Additionally, no special regulatory approvals were required for this disposal, said Tai. He noted the acquisition due diligence was performed and completed by Accenture, to the firm’s satisfaction prior to the execution of the sales and purchase agreement.
The deal had been completed as the firm believed the change of ownership in Aristal from the vendors to Accenture had taken effect at the Companies Commission of Malaysia.
