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Closing: Accenture Acquisition of ARZ Now Closed

Closing: Accenture Acquisition of ARZ Now Closed

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On December 28, 2022, Baker McKenzie announced that Accenture’s takeover of ARZ Allgemeines Rechenzentrum (reported by CEE Legal Matters on June 10, 2022) had closed.

According to Baker McKenzie, "the takeover of ARZ (including its entire staff) will expand Accenture's cloud-based platform-as-a-service offering for banks, ranging from core banking services via online banking services to regulatory services for bank customers across Europe."

As previously reported, Schoenherr had advised the sellers on the sale of ARZ Allgemeines Rechenzentrum to Accenture, while Baker McKenzie had advised the buyer.

ARZ is a technology service provider focused on the banking sector in Austria, with offices in Vienna and Innsbruck. The company was previously majority-owned by the Volksbanken group and the Hypobanken sector, as well as other private banks.

Accenture is a professional services company providing services in areas including digital, cloud, and security in more than 120 countries.

The Baker McKenzie updated team included Austria-based Partners Gerhard Hermann, Lukas Feiler, Philipp Maier, and Andreas Traugott, Counsels Claudia Fochtmann-Tischler and Robert Wippel, Associates Teresa Stuttler, Alexander Hofmann, Alissa Forstner, Balint Ozsvar, Victoria Fink, Andrea Haiden, Nina Lenhard, and Katerina Schenkova, as well as lawyers from the firm’s German offices.

The Schoenherr team was led by Partner Sascha Hoedl and included Associates Joseph Moser and Stefan Dietrich.