Accenture (NYSE: ACN) has entered into an agreement to acquire Cabel Industry, an Italy-based technology provider specializing in core banking platforms and IT managed services for mid-sized financial institutions.

The seller is Fibonacci Group, which currently owns Cabel Industry. Financial terms of the transaction were not disclosed. The acquisition is subject to customary closing conditions.The deal is expected to enhance Accenture’s Financial Advanced Solutions & Technology unit, the firm’s Italian technology center of excellence focused on financial services. By integrating Cabel Industry’s platform capabilities and workforce of approximately 200 professionals, Accenture aims to expand its managed services offering for banks and insurers, particularly in areas such as core banking modernization and credit management.

Accenture said the acquisition will help accelerate technology adoption among mid-market financial institutions, supporting more scalable and competitive operating models as banks face growing demands for modernization, productivity, and regulatory compliance.

Teodoro Lio, Accenture’s market unit lead for Italy, said that core banking and credit management services are undergoing significant transformation driven by the need for greater scalability and efficiency. He noted that adding Cabel Industry’s specialized expertise strengthens Accenture’s ability to deliver industrialized, flexible solutions aligned with the evolving priorities of Italian banks.Massimiliano Colangelo, Financial Services lead for Accenture in Italy and Greece, said the integration will create operational and innovation synergies, enabling Accenture to support financial institutions across their IT reinvention journeys, from core system upgrades to long-term managed services.

Andrea Pettinelli, CEO of the Fibonacci Group and Chairman of Cabel Industry, said the transaction provides continuity for clients while offering expanded opportunities for employees to grow their skills within Accenture’s global network. He added that combining Cabel Industry’s capabilities with Accenture’s AFAST platform is expected to support the development of new technology solutions, particularly in credit management.

The Cabel Industry acquisition continues Accenture’s active expansion in Italy. Since 2023, the company has completed seven strategic acquisitions in the country across sectors including engineering managed services, artificial intelligence, public administration consulting, telecommunications infrastructure, justice and security systems, and aerospace and defense support services.

About Accenture

Accenture (NYSE: ACN) is a global professional services company providing strategy, consulting, digital, technology, and operations services. Serving clients in more than 120 countries, Accenture works with organizations across industries to drive digital transformation, improve operational efficiency, and build sustainable growth through innovation and technology.

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