Accenture has acquired Nomos Sistema, a provider of life insurance administration and product management software in Italy.
The acquisition aism to expand Accenture’s presence in the Italian insurance market by offering insurers a broader portfolio of software solutions and services, including business process outsourcing and ASP provider (ASP) services.
Terms of the deal were not disclosed.But Accenture is buying the company from Getronics Italia – an information and communications technology provider that holds the majority of the company’s equity (75%) – and a group of private investors.
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 Euros 14.7 million in 2003.
“With the acquisition of Nomos Sistema, we continue to grow our market presence and insurance capability in Italy,” says 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,” says 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.
Established in Milan in 1974, Nomos Sistema is a market leader in Italy in the field of life insurance management software, and is active on the banking software markets. NOMOS Sistema’s offices are based both in Milan and Rome with approximately 130 employees.