Mergers and Acquisitions, Mergers and Acquisitions, Content

Accenture Acquires SAP Partner SKS Group for Banking Expertise

attends WIRED25 Work: Inside San Francisco’s Most Innovative Workplaces on October 12, 2018 in San Francisco, California.

Accenture has acquired SKS Group, a consulting firm that helps banks modernize using SAP S/4HANA solutions. Financial terms of the deal were not disclosed.

This is the 22nd technology M&A deal that ChannelE2E has covered so far in 2023.

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, unit lead, Accenture
Christina Raab, unit lead, Accenture

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 ConsultingExton Consulting and its strategic investment, through Accenture Ventures, in Imburse.

Accenture’s M&A activity remains strong across the business and technology markets. You can see a full list of Accenture acquisitions ChannelE2E has tracked here.