Bangladesh's largest telecom operator Grameenphone has announced to wind up its off-operation associate company – Accenture Communications and Infrastructure Solution Limited.
The listed telecom operator, in a stock exchange filing on Monday, said Accenture Grameenphone representatives voted, in the extraordinary general meeting, for the winding-up of the associate company with the court permission.
Grameenphone initiated the company in 2010 as GPIT to provide end-to-end solutions to banks, financial institutions and corporate organisations across a wide range of industries.
In 2013, Grameenphone sold 51% stake at the then GPIT to Ireland's Dublin-based consulting and technology services company Accenture. Following that, the Bangladeshi entity went through a name change.
Following failures to secure work orders from expected clients including Grameenphone – the owner of 49% of Accenture shares – the IT company closed its operation in Bangladesh at the end of November 2017.