Consulting firm Altus has been bought by Accenture for an undisclosed sum, as the global player seeks to strengthen its foothold in the UK’s insurance, investment and financial services market.

Previous owner Equisoft is keeping the former Altus software business.

Altus Consulting’s projects include pensions, annuities, investment and asset management solutions, as well as specialty markets and general insurance segments such as motor and medical.

“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,” said William Pritchett, global lead for Accenture’s retirement practice.

He added: “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.”

Altus chief executive Martyn Evans said: “By joining Accenture, we gain the resources to dramatically enhance our offering to clients, whilst maintaining the values and approach that helped us build such a strong business. The move will allow us to deliver end-to-end transformation programmes at scale, from strategy and vision right through to design and delivery.”

Accenture previously bought UK consulting firms BCS Consulting in 2021 and Mudano in 2020.