NEW YORK; Jan. 31, 2017 – Accenture (NYSE: ACN) has agreed to acquire InvestTech Systems Consulting, a market leader in investment technology systems-integration and consulting services that supports many of the world’s largest asset managers and investment service providers.

The acquisition will further expand Accenture’s capabilities to help global investment managers, institutional investors and asset servicers strengthen their competitiveness by staying in front of new and emerging digital innovations and technology paradigms. Terms of the transaction were not disclosed.

“Asset managers are under growing pressure to modernize their investment management and operational infrastructure to support growth, higher efficiency and profitability,” said Owen Jelf, a senior managing director at Accenture and head of the company’s Capital Markets practice. “By further expanding our systems integration and consulting capabilities in this area, we will be able to do much more to help our clients tap new digital innovations and provide access to new scale advantages that can ensure their competitiveness well into the future.”

InvestTech’s services include systems integration and technology consulting support for the entire front to back-office investment process. The company, which is headquartered in Los Angeles, has expertise in strategic architecture planning, operations transformation, enterprise data management, investment accounting, portfolio management, trading product evaluations and implementation of leading vendor-provided solutions.

Jeremy Hurwitz, InvestTech’s founder and president, said,

“Over the past twenty-five years, we’ve built a team of some of the world’s most experienced investment systems professionals and have served many of the largest and most complex global asset management firms. We have developed a powerful suite of proprietary tools and methodologies that enhance our investment process, architecture, data and technology delivery services to our clients. As part of Accenture, we will be able to bring world class services to a wider spectrum of clients — from large and mid-sized asset managers to insurance companies, pension plans and hedge funds.”

Accenture’s Capital Markets practice provides consulting, strategy, digital, technology and outsourcing services to help financial institutions drive sales-force effectiveness, transform the client experience, improve operational productivity and efficiency, and improve decision-making via Big Data and analytics. Its asset management practice leverages deep domain expertise to deliver end-to-end solutions for clients, which include seven of the top 10 global asset managers.

The InvestTech acquisition will be Accenture’s second industry-focused asset-management acquisition in a little over a year. In December 2015, Accenture acquired Beacon Consulting Group to enhance its management consulting capabilities and expand its back- and middle-office client relationships with five of the top 10 North American asset-management firms.

The InvestTech transaction, which is subject to customary closing conditions, is expected to close within the next several weeks.