Accenture Buys IBM Stake in UniCredit Technology Venture

UniCredit and IBM established Value Transformation Services, or VTS, in September 2013 to manage and modernize the Italian bank’s technology infrastructure across Europe. IBM initially controlled 51% and UniCredit held 49%. The venture began with about 1,000 technology and financial-process specialists in six countries, operating under a 10-year services contract that was expected to generate roughly 725 million euros in net savings for UniCredit.

The parties announced an agreement on July 23, 2026, to transfer IBM’s majority holding to Accenture, with completion expected in September. Accenture will own 60% of VTS and become its controlling shareholder, while UniCredit will retain 40%. Financial terms were not disclosed, and the commercial agreement supporting the venture will be renewed for another 10 years. IBM will leave the ownership structure but continue supplying infrastructure and consulting services to UniCredit.