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Accenture Acquires Orbium For Financial Services Push

Accenture is acquiring Orbium, a Switzerland-based management consultancy and technology services provider focused on the financial services industry. Financial terms of the buyout were not disclosed.

The deal will strengthen Accenture’s reach within the global private banking and wealth management spaces, according to the company.

Orbium is the largest services provider of the Avaloq Banking Suite, a digital and core banking software used by the banking and wealth management industry. The software is used by more than 150 organizations worldwide. According to Accenture, Orbium has triple the number of Avaloq-certified specialists of any other company and is authorized to provide training for Avaloq professional certification.

Orbum, founded in 2004, has grown to more than 500 employees. The company has offices in more than a dozen cities throughout Europe, Asia-Pacific, and the United States. Its clients include global tier-one banks, premium wealth managers and private banks.

Changes In The Financial Services Industry

The wealth management industry has been undergoing a number of changes in recent years. Where the business was once contingent on high-cost, in-house legacy solutions, that type of thinking has made way for more outsourcing.

That change could be fueling increased investment. Indeed, ChannelE2E has tracked a number of M&A deals throughout the financial services sector as more tech companies look to get into the action.

Among the deals we’ve tracked:

Recent Accenture Acquisitions: The Company Buyout List

Meanwhile, Accenture has been very active on the M&A front. That company’s recent acquisitions cut across cloud, security, digital transformation and other services. The deals have included:

Accenture had a $1 billion war chest for acquisitions as of about 2017. We’re poking around to see how much of that money has yet to be spent.

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