Accenture Acquires SAP Partner SKS Group for Banking Expertise
This is the latest technology M&A deal that ChannelE2E has covered so far in 2023.
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Accenture Acquires SKS Group
Accenture, founded in 1989, is headquartered in Dublin, Ireland and has more than 70 locations around the globe. The company has 710,000 employees listed on LinkedIn. Accenture’s areas of expertise include management consulting, systems integration and technology, business process outsourcing and application and infrastructure outsourcing.
SKS Group is based in Hochheim, Germany. The company has approximately 500 employees. SKS Group’s areas of expertise include supporting financial institutions in the development, implementation and operation of SAP solutions for core banking services and analytics. SKS Group also has an extensive suite of risk, regulatory services and compliance capabilities, including its observatory tool which maps regulatory requirements to help banks manage their reporting processes.
The acquisition will expand Accenture’s technology, consulting and regulatory services capabilities, while enhancing its ability to serve specialized banks, such as national promotional banks that provide financial and development assistance to local businesses and communities, the companies said.
Christina Raab, market unit lead for Accenture in Germany, Austria and Switzerland, commented:
“With SKS Group’s deep industry knowledge and technology expertise, we will be in an even stronger position to help banks modernize their legacy technology, manage risk and accelerate growth. As consumers’ banking needs and preferences change, banks’ business models will have to evolve to keep pace and remain relevant.”
Martin Schuhmann, co-founder and managing director of SKS Group, added:
“Accenture’s global scale and scope will provide our people with exciting new opportunities to take banks’ digital transformations to the next level, deliver superior customer experiences and improve regulatory reporting processes.”
Accenture M&A Activity
SKS Group is Accenture’s latest acquisition in the banking sector following the acquisitions of Allgemeines Rechenzentrum GmbH (ARZ), BCS Consulting, Exton Consulting and its strategic investment, through Accenture Ventures, in Imburse.