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Accenture to Acquire Swiss Financial Services Industry Consultancy Orbium
Friday 11 January 2019

11 January 2019 - Irish professional services firm Accenture (NYSE: ACN) has agreed to acquire Switzerland-based management consultancy and technology services provider Orbium, the firm said.

Orbium serves the financial services industry.

The acquisition will further strengthen Accenture's ability to provide innovative services to clients in the private-banking and wealth-management space globally.

Terms of the transaction were not disclosed.

Orbium is the largest services provider for the Avaloq Banking Suite, a specialist in digital and core banking software for the banking and wealth management industry, used by more than 150 banks and wealth managers worldwide.

The firm has triple the number of Avaloq-certified specialists of any other company and is authorised to provide training for Avaloq professional certification.

The acquisition will provide Accenture with the expertise of Orbium's global workforce as well as technical assets including project accelerators developed specifically for the Avaloq platform.

Founded in 2004, Orbium has more than 500 employees and offices in more than a dozen cities across Europe, Asia-Pacific and the United States.

Its clients include global tier-one banks, premium wealth managers and private banks.
Details
Date Published: 11/01/2019
Target: Orbium
Country: Switzerland
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor:
Buyer: Accenture
Comment:
Terms of the deal were not disclosed

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