Accenture has agreed to acquire Cabel Industry, an Italian technology company that provides specialized core banking and IT managed services to mid-size financial institutions, from the Fibonacci Group. The transaction is expected to bolster Accenture’s banking and insurance technology offering in Italy by expanding its managed services capabilities and adding sector-specific platform expertise.
The acquisition will enhance Accenture Financial Advanced Solutions & Technology (AFAST) ‘s managed services portfolio, which is Accenture’s technology center of excellence dedicated to financial services in Italy. Accenture said integrating Cabel Industry’s capabilities, along with approximately 200 professionals, will strengthen AFAST’s ability to deliver advanced IT solutions for banking and insurance clients, including credit management services, while helping mid-market institutions accelerate technology adoption and build more scalable operating models.
Accenture positioned the deal as a response to growing demand for core banking modernization, scalability, and productivity, as financial institutions look to update legacy systems and adopt more industrialized, flexible technology platforms. The company also emphasized that the combination of Cabel Industry and AFAST is intended to create additional savings for clients across modernization programs and ongoing managed services.
For Fibonacci Group and Cabel Industry, the companies framed the agreement as a path to continuity of service for existing clients while providing greater opportunities for employees to expand skillsets within Accenture’s global network. The parties also highlighted the potential to develop new solutions, including around credit management, once Cabel Industry’s capabilities are integrated into AFAST.
Accenture noted that the planned acquisition builds on a broader set of strategic investments in the country, saying it has completed seven acquisitions in Italy since 2023, spanning engineering managed services, AI, public administration consulting, telecom infrastructure capabilities, and services supporting justice, security, and aerospace and defense programs.
KEY QUOTES:
“Core banking and credit management services are undergoing a profound transformation driven by new demands for modernization, scalability and productivity. Integrating Cabel Industry into Accenture significantly strengthens our core banking proposition. Their specialized platform and industry expertise enable us to accelerate the delivery of flexible, industrialized solutions aligned with the evolving technology priorities of Italian banks.”
Teodoro Lio, Market Unit Lead For Accenture In Italy
“Combining Cabel Industry’s capabilities with Accenture’s existing AFAST assets will create important synergies for our clients and lead to a stronger platform for innovation and efficiency. We can further support financial institutions in their IT reinvention journeys—from core banking modernization to managed services—reinforcing our role as a trusted partner in the region.”
Massimiliano Colangelo, Financial Services Lead For Accenture In Italy And Greece
“Innovation in banking increasingly depends on economies of scale and Accenture’s strong expertise and global network will ensure continuity of service for our clients while providing the best opportunity for our people to expand their skillsets. We believe that the integration of Cabel Industry’s unique capabilities into AFAST, including around credit management, will enable us to develop new technology solutions and deliver even more value to clients.”
Andrea Pettinelli, CEO Of The Fibonacci Group And Chairman Of Cabel Industry
