Accenture buys fintech consultancy Random Walk
22 June 2006 | 9511 views | 0
Accenture has agreed to acquire New York-based Random Walk Computing, a technology consulting firm specialising in trading applications and risk management systems for financial services institutions.
Terms of the transaction, which is expected to close within the next 60 days, were not disclosed.
Founded in 1995, Random Walk serves more than 70 financial services firms and exchanges.
Accenture says the acquisition expands its custom software integration and development capabilities for financial institutions that trade in stocks, bonds and derivative products.
Bill Cline, managing director of Accenture's capital market's practice in North America and Asia Pacific, says industry power shifts, new regulatory mandates and the growing challenges, opportunities and complexity of global trading are driving new demand for custom systems development and integration services.
"With our acquisition of Random Walk, we can help clients achieve high performance through a powerful mix of custom applications, standardised solutions, global support resources and associated consulting services," he adds.