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Accenture buys Intesa Sanpaolo's stake in Italian bank tech vendor

Accenture buys Intesa Sanpaolo's stake in Italian bank tech vendor

Italian banking group Intesa Sanpaolo has sold its majority stake in financial services technology firm SEC Servizi Spa to Accenture. Financial details of the deal were not disclosed.

Accenture has acquired Intesa Sanpaolo's 80.8% stake in the firm and will buy the remaining interests from other shareholders.

Accenture says that the deal will help it create a core banking platform that helps banks in their transition to digital and give it a strong foothold in Italy, where SEC Servizi Spa has several customers, including Intesa Sanpaolo.

Intesa Sanpaolo acquired SEC Servizi last year as part of a deal to buy certain assets, liabilities and legal relationships of Banca Popolare di Vicenza and Veneto Banca.

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