- Accenture (NYSE: ACN) announced it is buying Allgemeines Rechenzentrum GmbH (ARZ). This is why.
Accenture (NYSE: ACN) announced it is buying Allgemeines Rechenzentrum GmbH (ARZ), which is a technology service provider focused on the banking sector in Austria. This 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.
ARZ is currently majority-owned by Volksbanken Group and Hypobanken Group along with other private banks. And with locations in Vienna and Innsbruck, ARZ operates a technology competence center for innovation and technology services in the banking sector in Austria.
Plus ARZ’s approximately 600 employees will join Accenture and will continue to work in their existing locations in Vienna and Innsbruck.
ARZ is known as the latest acquisition Accenture has made in the banking industry. And last year Accenture 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.
The terms of the deal were undisclosed. And the completion of the acquisition is subject to customary closing conditions.
“Our vision is to develop an innovative cloud-based banking platform-as-a-service offering for new and existing clients across Europe. By acquiring ARZ, we are expanding our digital transformation capabilities to help banks of the future as they look to move more of their core functions to the cloud, enable new business models, and reinvent the services and experiences they provide to customers.”
— Roland Smertnig, senior managing director in Accenture’s financial services practice in Europe
“With this acquisition, we are expanding our team in Austria and will develop a comprehensive center of excellence at the Innsbruck location to serve our clients in Austria and across Europe. The ARZ team has the experience and talent to help us grow and meet our banking clients’ needs now and, in the future, and we look forward to welcoming them to Accenture.”
— Michael Zettel, Accenture’s country managing director in Austria
“The move to Accenture is a strategically smart development. Volksbanken and their customers will benefit from the combined expertise, the innovative services and collaboration between ARZ and Accenture.”
— Gerald Fleischmann, CEO of Volksbank Wien
“Joining forces with Accenture will open up exciting technology training and career opportunities for our employees in Innsbruck and Vienna.”
— Johannes Haid, a board member of Hypo Tirol