Mergers & Acquisitions

Mergers & Acquisitions

August 24, 2011

Accenture Acquires Duck Creek Technologies

The global management consulting, technology services and outsourcing company, Accenture (News - Alert) has successfully acquired Duck Creek Technologies., a privately held company that specializes in software solutions for the property and casualty insurance industry.

Duck Creek will now become part of Accenture Software, Accenture's dedicated software business.

Through this acquisition, approximately 370 Duck Creek employees based in the United States and the United Kingdom will now be joining Accenture.

Announced on July 14, 2011, the acquisition will complement Accenture Software's existing P&C, component-based software platforms.

It will also provide Accenture an industry-leading suite of software with one of the most comprehensive suites of processing capabilities for the P&C insurance market, from product configuration and definition to policy management.

"This acquisition demonstrates our commitment to offering insurers a full suite of P&C software with independent but interoperable modules that cover all core insurance functions," said Colin Davies, global director of Accenture Software, in a press release. "The software is designed to address insurers' business requirements while helping reduce implementation time and risk."

"Clients will also benefit from continual access to Accenture's ongoing R&D investments into advanced technologies, and can rely on our commitment to providing standard upgradable software, backed by valuable and cost-effective software maintenance services," said John Del Santo, global managing director of Accenture's Insurance practice.

 "We are pleased with our clients' excitement and support for this acquisition. Like us, they see how these complementary capabilities can lead to better and faster software implementations and more efficient operations."

In related news, Pepco Holdings, an energy delivery company in the U.S.'s mid-Atlantic region, has selected Accenture to establish an integrated Network Operations Center to expand the utility's ability.

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Deepika Mala is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Rich Steeves

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