Austria: Schoenherr advises technology service provider ARZ in Austria on acquisition by Accenture

ARZ operates a technology competence centre for innovation and technology services in the banking sector in Austria and is majority-owned by the Volksbanken group and the Hypobanken sector as well as other private banks. The acquisition will expand Accenture’s cloud-based banking platform-as-a-service offerings for banking clients across Europe. Schoenherr advised ARZ on all legal aspects of the transaction. The completion of the acquisition is subject to customary closing conditions.

"We are proud to have advised ARZ on this transaction, which is also important for the Volksbanken group and the Hypobanken sector", said partner and co-head of Schoenherr's corporate/m&a practice Sascha Hödl who led the Schoenherr team.

ARZ is a technology service provider with locations in Vienna and Innsbruck. It has approx. 600 employees. Since the merger of RZW and VDG in 1993, ARZ has made a name for itself as a competence centre for IT services in the banking sector, but also in the area of hospitals and public administration in Austria.

The Schoenherr team advising ARZ included Sascha Hödl (partner, lead) and Joseph Moser (associate), and they were supported by Stefan Dietrich (associate).