As part of boosting digital business Accenture has acquired 66.7 percent additional stake in Solium, a Madrid-based technology joint venture, to strengthen its hybrid cloud and mobility capabilities in Europe.
With this, BBVA, the joint venture partner, exited from Solium that it co-founded with Accenture as a joint venture in 2001. As part of the transaction, Solium will continue to provide hybrid cloud services to BBVA for the next five years.
Accenture did not disclose the financial details. Accenture, which has made several acquisitions in the digital space, will add 65 professionals of Solium and they will continue to be located in Madrid.
Solium provides technical expertise in private and hybrid cloud, Cloud for SAP HANA, and Mobility Infrastructure Management as-a-service cloud model. Its primary client base is in the financial services industry in Spain. It also serves companies in other industries including natural resources, consumer products, communications and technology.
Accenture aims to accelerate its digital business by acquiring Solium’s capabilities. This includes integration into Accenture’s multi-cloud management tool, the Accenture Cloud Platform, for faster, simpler consumption, delivery and integration of services into the broader cloud ecosystem.
Mark Beaton, senior managing director of Infrastructure Services for Accenture in Europe, Africa, Middle East and Latin America, said that the acquisition will also enhance Accenture’s capabilities in infrastructure optimization and operations including the implementation and management of cloud architectures, database as a service technologies, middleware, and converged infrastructure models.