Accenture (NYSE: ACN) is to acquire Allgemeines Rechenzentrum GmbH (ARZ), a Vienna and Innsbruck, Austria-based technology service provider focused on the banking sector.
The amount of the deal, whose completion is subject to customary closing conditions, was not disclosed.
The acquisition will expand Accenture’s cloud-based banking platform-as-a-service offerings, ranging from core banking services to online banking as well as regulatory services for banking clients across Europe. Accenture’s Banking industry group helps retail and commercial banks and payments providers boost innovation; address business, technology and regulatory challenges; and improve operational performance to build trust and engagement with customers and grow more profitably and securely.
Majority-owned by Volksbanken Group and Hypobanken Group as well as other private banks, ARZ operates a technology competence center for innovation and technology services in the banking sector in Austria. Its approximately 600 employees will join Accenture and will continue to work in their existing locations in Vienna and Innsbruck.
ARZ is the latest acquisition Accenture has made in the banking industry. Last year the company acquired Exton Consulting, a French consulting firm providing banking strategy support to financial services clients across Europe. Accenture also made a strategic investment, through Accenture Ventures, in Imburse, a cloud-based, payments-as-a-service enterprise platform that simplifies the way businesses around the world access the global payments ecosystem.