Accenture (NYSE: ACN) has agreed to acquire Allgemeines Rechenzentrum GmbH (ARZ), a technology service provider focused on the banking sector in Austria.

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Accenture Agrees to Acquire ARZ in Austria to Expand Banking Platform-as-a-Service Capabilities Across Europe (Photo: Business Wire)

The acquisition will expand Accenture’s cloud-based banking platform-as-a-service offerings, ranging from core banking services to online banking as well as regulatory services for banking clients across Europe.

ARZ is majority-owned by Volksbanken Group and Hypobanken Group as well as other private banks. With locations in Vienna and Innsbruck, ARZ operates a technology competence center for innovation and technology services in the banking sector in Austria.

ARZ's approximately 600 employees will join Accenture and will continue to work in their existing locations in Vienna and Innsbruck.

"Our vision is to develop an innovative cloud-based banking platform-as-a-service offering for new and existing clients across Europe," said Roland Smertnig, senior managing director in Accenture’s financial services practice in Europe. “By acquiring ARZ, we are expanding our digital transformation capabilities to help banks of the future as they look to move more of their core functions to the cloud, enable new business models, and reinvent the services and experiences they provide to customers.”

Michael Zettel, Accenture’s country managing director in Austria added, "With this acquisition, we are expanding our team in Austria and will develop a comprehensive center of excellence at the Innsbruck location to serve our clients in Austria and across Europe. The ARZ team has the experience and talent to help us grow and meet our banking clients’ needs now and, in the future, and we look forward to welcoming them to Accenture.”

Gerald Fleischmann, CEO of Volksbank Wien said, "The move to Accenture is a strategically smart development. Volksbanken and their customers will benefit from the combined expertise, the innovative services and collaboration between ARZ and Accenture.”

Johannes Haid, a board member of Hypo Tirol added, “Joining forces with Accenture will open up exciting technology training and career opportunities for our employees in Innsbruck and Vienna.”

ARZ is the latest acquisition Accenture has made in the banking industry. Last year Accenture acquired Exton Consulting, a French consulting firm providing banking strategy support to financial services clients across Europe. Accenture also made a strategic investment, through Accenture Ventures, in Imburse, a cloud-based, payments-as-a-service enterprise platform that simplifies the way businesses around the world access the global payments ecosystem.

Terms of the transaction were not disclosed. Completion of the acquisition is subject to customary closing conditions.

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