Accenture (NYSE: ACN) has agreed to acquire SKS Group, a
consulting firm that helps banks across Germany, Austria and
Switzerland modernize their technology infrastructure and address
regulatory requirements using SAP S/4HANA® solutions. Terms of the
transaction were not disclosed.
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Accenture has agreed to acquire SKS
Group, a consulting firm that helps banks across Germany, Austria
and Switzerland modernize their technology infrastructure and
address regulatory requirements using SAP S/4HANA® solutions.
(Photo: Business Wire)
The acquisition will expand Accenture’s technology, consulting
and regulatory services capabilities, while enhancing its ability
to serve specialized banks, such as national promotional banks that
provide financial and development assistance to local businesses
and communities.
With headquarters in Hochheim, Germany, SKS Group’s team of
approximately 500 professionals will join Accenture Technology. The
deal encompasses all of SKS Group's businesses, which support
financial institutions in the development, implementation, and
operation of SAP solutions for core banking services and analytics.
SKS Group also has an extensive suite of risk, regulatory services
and compliance capabilities, including its observatory tool which
maps regulatory requirements to help banks manage their reporting
processes.
“SKS Group’s innovative solutions and skills will bolster our
ability to transform banks’ core business functions, enabling them
to operate more efficiently, make better use of their data and
develop new products faster,” said David Cordero, who leads
Accenture’s Banking industry group in Europe. “In addition, SKS
Group’s strong capabilities for specialized banks will expand our
banking services to new clients.”
Christina Raab, market unit lead for Accenture in Germany,
Austria and Switzerland, added: “With SKS Group’s deep industry
knowledge and technology expertise, we will be in an even stronger
position to help banks modernize their legacy technology, manage
risk and accelerate growth. As consumers’ banking needs and
preferences change, banks’ business models will have to evolve to
keep pace and remain relevant.”
Martin Schuhmann, co-founder and managing director of SKS Group,
said: “Accenture’s global scale and scope will provide our people
with exciting new opportunities to take banks’ digital
transformations to the next level, deliver superior customer
experiences and improve regulatory reporting processes.”
SKS Group is Accenture's latest acquisition in the banking
sector following the acquisitions of Allgemeines Rechenzentrum GmbH
(ARZ), BCS Consulting, Exton Consulting and its strategic
investment, through Accenture Ventures, in Imburse.
Completion of the acquisition is subject to customary closing
conditions.
Forward-Looking Statements
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expressed or implied. These risks include, without limitation,
risks that: Accenture and SKS Group will not be able to close the
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dependent on the parties’ ability to satisfy certain closing
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About Accenture
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Michael McGinn Accenture +1 312 693 5707
m.mcginn@accenture.com
Leonie Amtenbrink Accenture +49 152 52507129
leonie.amtenbrink@accenture.com
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