Accenture has acquired Altus Consulting from Equisoft as it looks to expand its services for insurance, investments and financial services businesses across the UK.
Financial terms of the deal were not disclosed.
Founded in 2005, Altus provides advisory services based on data-driven insights and modelling. The firm has expertise in operating models, data and platforms used in financial services and works with the life, pensions, investments and insurance sectors. Following the acquisition, Altus’ team will join Accenture’s insurance practice in the UK, contributing expertise in distribution, risk and regulation, operating models, data and technology.
The acquisition includes software products, such as an operational and regulatory impact assessment tool, to complement Accenture’s existing offerings.
Equisoft will retain the former Altus software business and continue offering software products and tools for the life insurance, pensions and investment industries.
This deal follows other recent moves by Accenture to expand its financial services offerings in the UK, including the acquisitions of BCS Consulting and Mudano. It had earlier stated a more collaborative and proactive approach is necessary to ensure that its offerings will be resilient against threats, particularly cyber.
“Our acquisition of Altus Consulting will accelerate our goal of helping clients to reinvent their business, building capabilities that enable them to better serve customers as they plan for their futures,” said Carmina Lees, insurance lead for Accenture in the UK and Ireland. Lees was appointed to the position in June 2024.
Meanwhile, Altus CEO Martyn Evans said that the acquisition would open opportunities for Altus, providing the company with more resources to improve its services to clients, while maintaining the values that helped grow the business.
“The move will allow us to deliver end-to-end transformation programmes at scale, from strategy and vision right through to design and delivery,” Evans added. “This is a pivotal moment for the financial services industry, particularly in insurance where there is still so much untapped potential for technology to innovate products and services.”
