Accenture Acquires NIKE Group For Financial Services Technology
This is M&A deal number 199 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
NIKE provides regulatory technology (RegTech) services and solutions to financial services firms. The firm help clientele to monitor new regulatory and compliance requirements. The NIKE Group team will join Accenture’s Italian Financial Services practice. The deal enhances Accenture’s own RegTech and compliance capabilities for its clients in Italy and across Europe, according to the buyer.
NIKE Group Acquisition: Executive Perspectives
Massimiliano Colangelo, who leads Accenture’s Financial Services Client Group in Italy, said:
“Financial services firms need a data-driven approach to compliance that manages escalating costs, detects regulatory changes faster and creates new efficiencies. NIKE Group’s extensive regulatory industry experience combined with Accenture’s scale and approach to innovation will enable us to create an enhanced data-driven market offering in advanced RegTech that will help clients accelerate their compliance transformations.”
Carlo Giaj Levra, CEO of NIKE Group, added:
“We are excited to join Accenture; its size and geographic reach will offer our employees new opportunities to expand their skills and will provide our customers with end-to-end solutions. As regulations continue to proliferate across markets, the need for a centralized approach to help organizations manage regulatory compliance strategically is heightened. Together with Accenture, we will continue to develop solutions and technologies to improve governance and compliance processes for financial services, with the aim to expand our services to other industries.”
Accenture Acquisitions: Deal Focus
Accenture‘s acquisition budget is $1.6 billion for fiscal year 2020, CFO KC McClure told Wall Street analysts during an earnings call in mid-March 2020. As of that time, the global IT services provider and consulting firm had spent $584 million on 17 acquisitions in this fiscal year, McClure indicated. ChannelE2E doesn’t know if the M&A budget has changed amid the coronavirus pandemic.