Accenture Completes Acquisition of Random Walk, Consulting Firm Specializing in Trading, Risk-Management and Other Capital Markets Technologies.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Accenture (NYSE NYSE See: New York Stock Exchange : ACN ACN Accenture (stock symbol) ACN Accenture ACN Australian Company Number ACN Automatic Collision Notification (US DOT) ACN Acetonitrile ACN Anglican Communion Network ) has completed its previously announced acquisition of Random Walk Computing Inc., a technology consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a specializing in trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. applications, risk management systems and other technologies for banks, asset managers, exchanges and other financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. institutions. The acquisition expands Accenture's custom software integration and development capabilities for financial institutions that trade in stocks, bonds and derivative products. Founded in 1995, Random Walk has established itself as a mainstay in the Wall Street technology community. "Accenture's acquisition of Random Walk underscores the trend toward customized vendor development within capital markets," said Harrell Smith of Celent, a financial services industry research firm. "According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Celent's recent research into spending trends and priorities among leading financial services institutions, firms are increasingly looking outside of their own organizations for customized application development. Even among firms that traditionally felt that their scale and internal IT resources gave them a competitive advantage with respect to trading technology, we see increased interest in the types of services Random Walk provides." In 2005, financial services firms spent approximately $4.4 billion on software technologies, including custom and commercial applications and in-house technology development, according to Celent. "With Random Walk now part of Accenture, we can offer our clients more capabilities to design and build innovative custom software solutions that truly differentiate them from the competition," said Bill Cline, managing director of Accenture's Capital Market's practice. "By combining our global offshore development capabilities and consulting and outsourcing services with Random Walk's deep industry expertise and technological skills and proven development methodologies, we can continue to deliver and expand the valued services Random Walk has brought to the market for more than a decade." Random Walk founders Joel Scotkin and Jim Lowe have joined Accenture's Financial Services operating group, along with all key members of Random Walk's leadership team and technology workforce. Terms of the transaction were not disclosed. About Accenture Accenture is a global management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects , technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 133,000 people in 48 countries, the company generated net revenues of US$15.55 billion for the fiscal year ended Aug. 31, 2005. Its home page is www.accenture.com. |
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