Accenture acquires fintech consulting firm Verax
Accenture has acquired Verax Solutions, a Toronto-based technology and systems-integration consulting firm. Financial terms were not disclosed.
Verax is a privately-owned company founded in 2003 that employs around 180 people at offices in Toronto and Halifax. Its service areas include IT strategy, enterprise architecture consulting, project and programme management, financial risk and compliance solutions, as well as business intelligence and data warehousing.
It works with banking, insurance and capital markets institutions, and provides IT consulting across financial-services lines of business, including wealth management, brokerage and mutual funds, mobile and online banking, retail and commercial banking, and insurance and capital markets.
“Verax consultants are known for their deep technical expertise, collaborative culture and strong reputation for delivery, which we believe will greatly complement and enhance the breadth and depth of our financial services capabilities in Canada,” says Robert Vokes, managing director of Accenture’s Financial Services practice in Canada.
I’ll take it
There have been other recent acquisitions for Accenture.
Accenture Security completed its acquisition of Arismore, a privately held company in France that specialises in security services including identity and access management.
While back in March, Accenture said it will acquire First Annapolis, a privately held payments consulting and advisory firm Alan McIntyre, senior managing director, and head of Accenture’s Banking practice, says the acquisition “will enhance our capabilities in the payments sector”.
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