Professional services giant Accenture has acquired technology consultancy firm Altus Consulting from Equisoft for an undisclosed sum.

Altus Consulting designs and delivers business and technology solutions across the pensions, investments and asset management space.

Equisoft has retained the Altus software business which will continue to focus on offering software products to life insurance companies, pensions providers and investment firms.

Altus Consulting, founded in 2005, works with many financial services firms in the UK including many in the workplace and personal pensions space.

The firm’s team will join Accenture’s insurance practice to add expertise in distribution, risk and regulation, operating models, data and technology.

Accenture said the acquisition when combined with its technology will help deliver end-to-end transformation projects for clients at scale.

William Pritchett, global lead of Accenture’s retirement business, said: “As several of the world’s largest economies face a significant proportion of their workforce entering retirement age over the next two decades, the ability for people to prepare well for retirement is increasingly more challenging.

“Government and industry are striving to help, including providing greater access to advice and guidance, narrowing the gender savings gap and establishing innovative risk-sharing products.

"Altus Consulting is a trusted adviser across the insurance and investment industries, bringing relevant experience and IP to enhance Accenture’s ability to address such challenges.”

Accenture is a global professional services company with over 799,000 employees serving clients in 120 countries.