Accenture has revealed its intention to acquire Paris-based independent consulting firm Optimind for an undisclosed price.
Optimind offers advisory services and solutions to support insurance companies, banks, and large corporate clients to address the major challenges of competitiveness, transformation, and regulation.
Established in 2000, the consulting firm is said to have over 350 highly skilled professionals, including over 110 actuaries to cater to clients in France and Luxembourg.
The firm’s service offerings are claimed to span the entire spectrum of the risk management value chain, including strategy to finance, quantitative modelling to compliance, and mapping to continuity plans.
Optimind CEO and founder Christophe Eberle said: “Our people will provide expertise in qualitative, quantitative and administrative risk management services and solutions.
“Joining Accenture would allow us to expand our global footprint and create new business opportunities for our company and our people.
“Together, we could support our clients on a broader base at a time when business, financial and regulatory changes are about to change the historical balance and mean our clients need our support more than ever.”
Through the acquisition of Optimind, Accenture expects to bolster its capabilities in providing customers with quantitative and qualitative risk management and compliance services.
The acquisition would be subject to customary closing conditions and necessitates prior engagement with the relevant works councils and regulatory approval.
Accenture France and Benelux market unit lead Olivier Girard said: “The acquisition would complement Accenture’s existing finance and risk management capabilities and further strengthen our ability to help clients successfully navigate disruption and drive enterprise value.
“We would be able to address the entire value chain and help our clients accelerate and scale their financial and compliance transformation projects.”
In October 2022, Accenture announced the acquisition of Blackcomb Consultants, a Guidewire partner in North America, with an aim to support insurance carriers to accelerate their digital transformation in the cloud.