Under terms of the agreement:
- Select employees from Zafin's professional services business join Accenture's global Financial Services practice;
- Accenture become's Zafin's preferred integrator for the company's financial software platform. Zafin's software assists financial services firms and banks with pricing, product and customer strategies.
The relationship's financial terms and headcount figures were not disclosed.
In a prepared statement, Alan McIntyre, a senior managing director at Accenture and head of its global Banking practice, said:
"Many financial institutions are hindered in enhancing their customer experience by the limitations of legacy IT systems. Zafin's software enables financial institutions to improve their pricing, personalization and product configuration without having to replace their legacy systems. We look forward to working with Zafin to deliver these capabilities to our financial services clients globally."
Added Al Karim Somji, founder and group CEO of Zafin:
"These agreements with Accenture will enable us to sharpen our focus squarely on product innovation and technology. We are particularly proud of the work we've done with our clients globally and expect our expanded relationship with Accenture to enable us to accelerate our momentum in the market. This deal simplifies our operating model and provides Zafin with rapid scalability."
The deal is expected to close in the first quarter of 2019.
Accenture Acquisitions: The Growing List
Accenture in recent months has made numerous acquisitions as part of its $1 billion M&A push across digital, cloud and security services.
Other recent Accenture deals include:
- December 2018: Acquiring Oracle cloud partner PrimeQ, a SaaS integrator and managed services provider (MSP) in Australia.
- December 2018: Acquiring Enaxis Consulting, a Houston-based digital consulting firm with experience in IoT, analytics, and robotics across the oil, gas and airline industries.
- November 2018: Investing in Financial Analytics Company Quantexa
- November 2018: Acquiring Adobe Partner Kaplan
- November 2018: Acquiring US-based SAP partner Intrigo Systems.
- November 2018: Buying Kolle Rebbe, a digital media agency.
- October 2018: Acquiring DAZ Systems to bolster its Oracle cloud services business.
- August 2018: Buying Mindtribe and Pillar Technology to help expand its Industry X.O digital practice.
- July 2018: Acquiring Kogentix for big data analytics and AI offerings.
- May 2018:Acquired Oracle partner Certus Solutions.
Accenture is scheduled to announce its latest quarterly results on December 20, 2018.