Deal creates powerful innovation hub for the financial sector in Italy
MILAN, Nov. 30, 2018 – The Intesa Sanpaolo Group and Accenture (NYSE: ACN) have completed the banking group’s sale to Accenture of its 80.8 percent interest in SEC Servizi Spa, which provides technology services and software applications to financial institutions. Accenture will also acquire the remaining interests in SEC Servizi Spa held by other shareholders.
The acquisition of SEC Servizi’s expertise and technology and operational assets will enable Accenture to create an advanced and innovative core banking platform that can support banks in their transition to digital. This transaction will help to establish Accenture as a leader in the banking technology market in Italy, serving SEC Servizi Spa’s existing customers, including Intesa Sanpaolo and other mid-sized financial institutions in Italy.
Intesa Sanpaolo acquired SEC Servizi in 2017 as part of the acquisition of certain assets, liabilities and legal relationships of Banca Popolare di Vicenza S.p.A. and Veneto Banca S.p.A, both in compulsory administrative liquidation.
About Intesa Sanpaolo
Intesa Sanpaolo is among the top banking groups in the euro zone and is the leader in Italy in all business areas (retail, corporate, and wealth management). In Italy, the Group offers its services to 11.9 million customers through a network of approximately 4,400 branches well distributed throughout the country with market shares no lower than 12% in most Italian regions. Intesa Sanpaolo has a strategic international presence, with approximately 1,000 branches and 7.5 million customers, including subsidiaries operating in commercial banking in 12 countries in Central Eastern Europe and Middle Eastern and North African areas, and an international network of specialists in support of corporate customers across 25 countries.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions — underpinned by the world’s largest delivery network — Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 459,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.