Accenture has completed its latest acquisition, this time buying UK-based management consultancy BCS Consulting for an undisclosed amount.
This is technology M&A deal number 689 that ChannelE2E has covered so far in 2021.
Founded in 2001, BCS Consulting is headquartered in London. The company’s 250 employees will join Accenture’s UK financial services strategy and consulting practice, according to Accenture.
BCS’ expertise is centered around payments, open banking, operational resilience, financial crime and cost optimization. The acquisition complements Accenture’s already existing industry consulting and technology capabilities and builds upon its recent financial services acquisitions, including Mudano, Orbium and Parker Fitzgerald.
Accenture Acquires BCS Consulting: The Changing State Of Financial Services
Adam Markson, managing director in Accenture’s U.K. financial services strategy and consulting practice, commented:
“Financial services firms continue to contend with core challenges that have been intensified by the pandemic, such as unmanageable cost levels and digital disruption. BCS Consulting has a strong track record helping firms address these issues. From designing solutions to technology implementation, BCS Consulting’s end-to-end capabilities help the sector create business models that drive new efficiencies and competitiveness, bolster resilience and keep pace with change."
Paul Brock, CEO of BCS Consulting, said:
“Helping financial services firms navigate complex business change has been our priority since day one. Our industry focus, coupled with Accenture’s scale and scope and its expertise helping financial services firms across the world embrace change, will enable us to extend our capabilities to a broader client base. We’re excited to become part of one of the world’s leading companies and look forward to the opportunities this will bring to our employees and clients.”
Paul Stanley, head of financial services at Accenture in the U.K. and Ireland added:
“The pandemic has created fundamental and permanent shifts in how consumers want to engage with financial services. Firms in the sector face a critical need to transform their business models to rapidly meet these shifting demands. We are delighted to welcome BCS Consulting to Accenture and together, we will help our clients deliver this much needed change at greater pace and scale. Furthermore, BCS Consulting’s focus on employee development aligns well to Accenture’s commitment to growing the next generation of financial services consultants, so we can best serve our clients both now and in the future.”
Accenture's Acquisitions
BCS Consulting is the sixth acquisition that Accenture has made in the U.K. in 2021 following the acquisitions of Edenhouse and Infinity Works in February, Cirrus and REPL in March and Xoomworks in October.
Accenture now has more than 624,000 employees worldwide.
