HOCHHEIM, Germany, January 10, 2023–(BUSINESS WIRE)–Accenture (NYSE:ACN) has agreed to acquire SKS Group, a consulting firm that helps banks in Germany, Austria and Switzerland modernize their technology infrastructure and meet the requirements regulations using SAP S/4HANA® solutions. Terms of the transaction were not disclosed.
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Accenture has agreed to acquire SKS Group, a consulting firm that helps banks in Germany, Austria and Switzerland modernize their technology infrastructure and meet regulatory requirements using SAP S/4HANA® solutions. (Photo: BusinessWire)
The acquisition will expand Accenture’s capabilities in technology, advisory and regulatory services, while strengthening its ability to serve specialty banks, such as national development banks that provide financial and development assistance to businesses and to local communities.
Headquartered in Hochheim, Germany, SKS Group’s team of approximately 500 professionals will join Accenture Technology. The agreement encompasses all activities of the SKS Group, which support financial institutions in the development, implementation and operation of SAP solutions for banking services and basic analytics. The SKS Group also has a full suite of risk, regulatory and compliance services, including its Compliance Tool which maps regulatory requirements to help banks manage their reporting processes.
“SKS Group’s innovative solutions and skills will strengthen our ability to transform banks’ core business functions, enabling them to operate more efficiently, make better use of their data and develop new products faster,” said David Cordero, who leads Accenture’s banking sector group in Europe. “In addition, the SKS Group’s strong capabilities for specialty banks will allow us to extend our banking services to new customers.”
Christina Raab, Head of Market Unit for Accenture in Germany, Austria and Switzerland, added: “With SKS Group’s deep industry knowledge and technology expertise, we will be in an even stronger position. to help banks modernize their existing technology, manage risk and accelerate growth. As consumer banking needs and preferences change, banks’ business models will need to evolve to keep pace and stay relevant.”
Martin Schuhmann, co-founder and Managing Director of SKS Group, said: “Accenture’s global scale and reach will provide our people with exciting new opportunities to take digital banking transformations to the next level, deliver a customer superiority and improve regulatory reporting processes. “
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, via Accenture Ventures, in Imburse.
Completion of the acquisition is subject to customary closing conditions.
Forward-looking statements
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