Accenture Announces Purchase of Mortgage Cadence, No Terms Disclosed

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.