Accenture to Acquire SKS Group

February 2, 2023

Strengthening its SAP- and Regulatory Capabilities for Banking Clients in Germany, Austria and Switzerland

Accenture (NYSE: ACN) has agreed to acquire SKS Group, a consulting firm that helps banks across Germany, Austria and Switzerland modernize their technology infrastructure and address regulatory requirements using SAP S/4HANA® solutions. Terms of the transaction 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.

With headquarters in Hochheim, Germany, SKS Group’s team of approximately 500 professionals 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.

“SKS Group’s innovative solutions and skills will bolster 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 industry group in Europe. “In addition, SKS Group’s strong capabilities for specialized banks will expand our banking services to new clients.”

Christina Raab, market unit lead 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 legacy technology, manage risk and accelerate growth. As consumers’ banking needs and preferences change, banks’ business models will have to evolve to keep pace and remain relevant.”

Martin Schuhmann, co-founder and managing director of SKS Group, said: “Accenture’s global scale and scope will provide our people with exciting new opportunities to take banks’ digital transformations to the next level, deliver superior customer experiences 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, through Accenture Ventures, in Imburse.

Completion of the acquisition is subject to customary closing conditions.

Related Articles

Bitkom awards 15 new smart schools

Bitkom awards 15 new smart schools

Total network grows to 116 pioneering schools for digital education Green Smart Schools also awarded for digitalisation and sustainability for the first time Digital school and teaching concepts, a fast and reliable digital infrastructure, teachers with digital...

One in two fears misuse of their personal data

One in two fears misuse of their personal data

ESET survey sheds light on internet users' biggest concerns and their protective measures Identity theft and misuse of personal data are the biggest concerns for almost half of internet users, according to a representative ESET survey. In second and third place come...

100 Years of Hyperinflation: the 100,000,000,000 Mark Banknote

100 Years of Hyperinflation: the 100,000,000,000 Mark Banknote

Extreme devaluation of money 100 years ago in the German Reich Highest banknote put into circulation was worth 100 trillion marks Fourfold increase in staff at the Reichsdruckerei, the predecessor of the Bundesdruckerei Additional land and buildings rented for the...

Share This