Acquisitions / Finance

Accenture acquires Maryland firm with eye toward future of payments

First Annapolis is joining Accenture Consulting to help with the ongoing transition in the payments space.

Money. ( file image; source unknown)

Global consulting giant Accenture acquired an Annapolis-based company as it looks to keep up with the way payments are changing.
First Annapolis employs 80 people, and consults with financial institutions, retailers, tech companies and M&A firms in the U.S., as well as in Europe through its Amsterdam office.
In a statement, Accenture Banking head Alan McIntyre said the 26-year-old firm can help his company navigate the fintech future where payments shift from plastic cards to the blockchain, mobile wallets and P2P payments.
“Our acquisition of First Annapolis will enhance our capabilities in the payments sector, positioning us to lead with expertise and scale to provide clients the advice and execution capabilities needed to navigate the rapidly evolving retail and commercial payments landscape,” McIntyre said in a statement.
Terms of the deal were not disclosed. The acquisition closed Monday, less than a week after being announced.

Companies: Accenture

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