Accenture ACN has agreed to acquire Mortgage Cadence, a provider of
loan origination software and electronic document management services in the
United States. The acquisition will add an advanced technology platform to
strengthen Accenture's mortgage business-process outsourcing (BPO) services
and enable the company to provide software to mortgage lenders looking to
increase efficiencies and reduce costs. Terms of the transaction were not
disclosed.
Under the agreement, which is subject to customary closing requirements,
Mortgage Cadence will become part of Accenture and its software will be
incorporated into Accenture Credit Services, a business service within
Accenture's financial services operating group that provides consulting,
technology and outsourcing services to financial institutions. Accenture
Credit Services will use Mortgage Cadence technology as a core
loan-origination platform to process mortgages on behalf of its outsourcing
clients. Accenture also will provide the software to lenders on a standalone
basis through Accenture Software as part of its banking-software portfolio.
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