Acquisition gives Accenture a leading position globally in Avaloq implementation
Accenture (NYSE: ACN) has completed its acquisition of Orbium, a management consultancy and technology services provider to the financial services industry, further strengthening its ability to provide innovative services to clients in the private-banking and wealth-management space globally. Terms of the transaction were not disclosed.
Headquartered in Switzerland, Orbium is the largest services provider for the Avaloq Banking Suite a leader in digital and core banking software for the banking and wealth management industry, used by more than 150 banks and wealth managers worldwide. A market leader in the delivery of Avaloq-enabled business transformation projects, Orbium has triple the number of Avaloq-certified specialists of any other company and is authorized to provide training for Avaloq professional certification.
"Wealth managers have a huge opportunity to win scale efficiencies through new digital technologies," said Michael Spellacy, senior managing director and head of Accenture's capital markets practice. "This acquisition gives our clients a more rapid path to innovations that will make them competitive in the next decade and beyond."
The acquisition provides Accenture with the expertise of Orbium's global workforce as well as technical assets including project accelerators developed specifically for the Avaloq platform.
Avaloq CEO Juerg Hunziker said: "We're thrilled to see Accenture's increased commitment to the Avaloq platform. Accenture's acquisition of Orbium will scale up and accelerate their Avaloq implementation expertise and reinforce our existing digital transformation capabilities for wealth managers and banks globally. We would like to thank the Orbium team for their part in our long-standing successful collaboration and their impressive track record in implementing our platform, and we look forward to continuing our partnership with Accenture even more closely."
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.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions underpinned by the world's largest delivery network Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 469,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
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