Accenture reached a agreement to acquire Cabel Industry, an Italian technology company of the Group Fibonacci specializing in core banking, IT managed services and operations. The strategic move aims to strengthen Accenture's positioning in the IT market. financial and banking services, expanding the capabilities of Accenture Financial Advanced Solutions & Technology (Afast) with new assets, specialized skills and an advanced credit platform.
“Cabel Industry is a consolidated partner for numerous institutions, including medium-sized ones, thanks to the quality of its services and highly specialized skills,” Accenture states in the note.
A strategic integration for medium-sized banks
The growing demand from mid-sized banks for flexible, efficient, and technology-based solutions makes this acquisition particularly strategic. The integration between Afast and Cabel Industry will expand the offering towards scalable and competitive models, enhance innovation and specialization in credit, and support end-to-end transformation projects in the banking sector.
This transaction represents Accenture's eighth strategic acquisition in Italy. since 2023. Over the last two years, the company has completed seven acquisitions strategic in Italy, including IQT, Ammagamma, Intellera Consulting, Fibermind, Customer Management IT, SirfinPA e Sipal, strengthening its expertise in AI, 5G networks, public administration, security, and defense. Financial details of the transaction were not disclosed.
Comments
Secondo Teodoro Lio, CEO of Accenture Italy: "Core banking and credit management services are undergoing a profound transformation, driven by the need for modernization, scalability, and productivity. The integration with Cabel Industry will generate significant synergies for our clients."
Massimiliano Colangelo, head of Financial Services for Accenture Italy and Greece, adds: "We will be able to support banks in complete reinvention projects, from core banking modernization to full outsourcing services. With the addition of approximately 200 professionals and a consolidated client portfolio, Accenture strengthens its leading role in the banking sector."
Andrea Combs, CEO of the Fibonacci Group and President of Cabel Industry, emphasizes: “Innovation in the banking sector is increasingly dependent on economies of scale. Accenture's expertise and its global network will ensure service continuity and new professional growth opportunities for those involved.”
