Accenture (NYSE: ACN) announced on Wednesday it has agreed to acquire Orbium, a management consultancy and technology services provider to the financial services industry, headquartered in Switzerland. According to Accenture, the acquisition will further strengthen Accenture’s ability to provide innovative services to clients in the private-banking and wealth-management space globally.
Accenture reported that Orbium is the largest services provider for the Avaloq Banking Suite, which is described as 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. Orbium notably helps private banks and wealth managers improve their performance by aligning their business strategy with their operating model and technology architecture.
“Orbium’s unparalleled knowledge of the global wealth management industry has made the company a market leader in the delivery of Avaloq-enabled business transformation projects. The firm has triple the number of Avaloq-certified specialists of any other company and is authorized 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.”
Speaking about the acquisition, Samir Gherbi, a partner at Orbium, said,
“We are tremendously excited about the new opportunities that we will be able to bring to our clients and our people by becoming part of Accenture. In leveraging Accenture’s leading-edge capabilities, we will be able to significantly expand the reach and scope of our market solutions. Accenture and Orbium share a common focus: our clients’ success.”
Terms of the acquisition transaction were not disclosed.