Accenture (NYSE: ACN) has agreed to acquire SKS Group, a Hochheim, Germany-based consulting firm that helps banks across Germany, Austria and Switzerland modernize their technology infrastructure and address regulatory requirements using SAP S/4HANA® solutions.
The terms of the transaction – whose completion is subject to customary closing conditions – were not disclosed.
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.
SKS Group’s team of approximately 500 professionals led by Martin Schuhmann, co-founder and managing director, will join Accenture Technology. The deal encompasses all of SKS Group’s businesses, which support 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.
FinSMEs
10/10/2023