AMSTERDAM and MILAN--Accenture has signed an agreement to acquire Nomos Sistema, a leading provider of life insurance administration and product management software systems in Italy. Terms of the deal were not disclosed.
Accenture is buying the company from Getronics Italia - a leading information and communications technology provider that holds the majority of the company's equity (75%) - and a group of private investors. The acquisition is part of Accenture's strategy to further enhance its market penetration and business process outsourcing capability in insurance in key markets including Italy.
Conditional upon the approval of the Italian Antitrust commission, Accenture will acquire all of Nomos Sistema's assets, and all of Nomos Sistema's approximately 130 employees. Nomos Sistema had revenues of EUR 14.7 million in 2003
"With the acquisition of Nomos Sistema, we continue to grow our market presence and insurance capability in Italy," said Gianfranco Casati, Accenture's country managing director for Italy. "Our clients continue to demand high-value solutions and services and it is our strategy to continue to grow our business to fit their diverse needs. The addition of Nomos Sistema's technology platform and software services to our existing insurance solutions and services provides leading life and general insurance companies with an expanded portfolio of options, including application service provider and business process outsourcing services."
"We have decided to divest Nomos as a consequence of the focus on our service offering portfolio " said Roberto Schisano, President of Getronics Italia. "This agreement with Accenture is consistent with our intention to streamline our operation and to better serve clients, permitting us a greater focus on this market of our core offerings within the infrastructure management and managed services arena.
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