Accenture to acquire Italian banking tech firm Cabel Industry
DUBLIN, IRELAND, and TUSCANY, ITALY — Accenture has agreed to acquire Italian technology and IT services provider Cabel Industry from the Fibonacci Group, a move designed to significantly enhance its core banking and managed services offerings for mid-size financial institutions in Italy.
The acquisition will integrate approximately 200 skilled professionals into Accenture’s financial services technology center, aiming to accelerate modernization and scalability for regional banks.
“Integrating Cabel Industry into Accenture significantly strengthens our core banking proposition,” said Teodoro Lio, Market Unit Lead for Accenture in Italy.
While the terms of the transaction were not disclosed, the acquisition is still subject to customary closing conditions.
Cabel Industry adds to Accenture’s Italian banking services
Incorporating Cabel Industry into the Accenture Financial Advanced Solutions and Technology (AFAST) center of excellence, it specifically strengthens its specialist assets in the financial services industry.
Financial Services Lead for Accenture in Italy and Greece, Massimiliano Colangelo, notes, “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.”
It is the seventh strategic acquisition by Accenture in Italy since 2023, and it has purchased companies in AI, public administration consulting, and 5G networks, which is a clear trend for the company.
The steady overtake policy highlights an exclusive approach to market share acquisition and mastery of domain knowledge in the given Italian industries.
The acquisition of companies such as Cabel Industry, which serves over fifty customers, including banks, financial institutions, and industrial companies, helps Accenture gain niche skills and talent pools, thereby expanding its service offerings and strengthening its status as a full-service technology partner.
This pattern of growth is not incidental but a coherent plan to build a dominant, multifaceted presence in the region’s digital transformation arena.
Enhancing mid-market banking services
A central objective of the acquisition is to address the pressing need for technological modernization among mid-size financial institutions.
Accenture highlights that core banking and credit management services are undergoing a profound transformation driven by demands for scalability and productivity.
Cabel Industry’s specialized platform and industry expertise in these areas are seen as key accelerants for delivering more flexible, industrialized IT solutions to this client segment.
The integration is designed to create a stronger platform for innovation and efficiency, specifically in credit management and core banking modernization.
“We believe that the integration of Cabel Industry’s unique capabilities into AFAST, including around credit management, will enable us to develop new technology solutions and deliver even more value to clients,” said Andrea Pettinelli, Chief Executive Officer (CEO) of the Fibonacci Group and Chairman of Cabel Industry.
The move reinforces Accenture’s role as a trusted partner for IT reinvention in the region, providing these institutions with access to broader economies of scale and global expertise through a managed services model.
Accenture ranked #2 in OA500 2025, an objective index of the world’s 500 top outsourcing companies. The 2026 edition of the OA500 is expected to be released in March.
