Accenture plc (ACN) announced Wednesday it's acquiring Cabel Industry from the Fibonacci Group for an undisclosed sum, a move designed to expand its footprint in Italy's financial services technology market.
Cabel Industry specializes in core banking solutions and IT managed services tailored for mid-sized financial institutions. It's exactly the kind of expertise that matters when banks are trying to modernize their technology without the massive budgets of the biggest players.
The acquisition will fold into Accenture Financial Advanced Solutions & Technology (AFAST), which is essentially Accenture's Italian tech hub for financial services. The addition of Cabel Industry's roughly 200 professionals should give AFAST more firepower to deliver IT solutions across banking and insurance, including credit management capabilities. The goal is to help mid-market institutions adopt technology faster and build more scalable, competitive business models.
What Management Is Saying
Massimiliano Colangelo, who leads Financial Services for Accenture in Italy and Greece, said the combination creates "important synergies for our clients and lead to a stronger platform for innovation and efficiency."
He added, "We can further support financial institutions in their IT reinvention journeys—from core banking modernization to managed services—reinforcing our role as a trusted partner in the region."
Teodoro Lio, Accenture's market unit lead in Italy, noted that "Integrating Cabel Industry into Accenture significantly strengthens our core banking proposition. Their specialized platform and industry expertise enable us to accelerate the delivery of flexible, industrialized solutions aligned with the evolving technology priorities of Italian banks."
How Accenture's Been Performing
Last week, Accenture reported first-quarter fiscal 2026 earnings of $3.94 per share, beating the analyst consensus of $3.75. Revenue came in at $18.700 billion, slightly above the $18.523 billion analysts expected.
The company adjusted its full-year fiscal 2026 GAAP EPS guidance to a range of $13.12 to $13.50, down from its prior forecast of $13.19 to $13.57. That's a touch below the analyst consensus of $13.56.
Price Action: ACN shares traded up 0.54% at $272.22 in premarket activity Wednesday.