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Accenture has reached an agreement to acquire Cabel Industry, an Italian technology company that provides specialized core banking, IT managed services and operations services, from the Fibonacci Group. Accenture announced this in a note in which it underlines how “thanks to its skills and the services it provides, Cabel Industry is today a consolidated partner for numerous institutes, including medium-sized ones”. The transaction strengthens Accenture’s position in the shared services market for the financial sector, expanding the capabilities of Accenture Financial Advanced Solutions & Technology (AFAST) – the center of technological excellence dedicated to Financial Services – with new assets, specialized skills and an advanced credit platform”.
“Core banking and credit management services are undergoing a profound evolution, driven by new needs for modernization, scalability and productivity,” said Teodoro Lio, CEO of Accenture Italia. “The union of Cabel Industry’s skills with Accenture’s assets will generate important synergies for our clients,” said Massimiliano Colangelo, head of Financial services for Accenture Italy and Greece. “We will be able to accompany banks in increasingly complete reinvention projects, from the modernization of core banking to full outsourcing services. With the entry of around 200 professionals from Cabel Industry and a consolidated portfolio of clients, Accenture will further strengthen its role as market leader in the banking segment”.
“Innovation in banking increasingly depends on economies of scale and Accenture’s strong expertise, together with its global network, will ensure continuity of service for our clients, while offering our people the best opportunity to broaden their skills,” said Andrea Pettinelli, CEO of Fibonacci Group and President of Cabel Industry. Since 2023, Accenture recalls having completed seven strategic acquisitions in Italy, including IQT (Engineering Managed Services), Ammagamma (AI), Intellera Consulting (Public Administration), Fibermind (5G and fiber networks), Customer Management IT and SirfinPA (Justice and Security), and SIPAL (Aerospace and Defense). Terms of the deal were not disclosed.
