Accenture, a management consulting giant based in New York, said it has acquired Beacon Consulting Group in Boston, which focuses on advising investment firms.
Beacon Consulting, with about 50 professionals, will become part of Accenture's capital markets practice, according to Accenture's announcement. Terms of the transaction were not disclosed.
"The Beacon leadership will take on key roles within Accenture's asset management team,'' said Damon Leavell, an Accenture spokesman.
The deal comes amid a series of acquisitions in the consulting industry. The Parthenon Group in Boston was acquired last year by Ernst & Young. Accenture is the former consulting arm of the defunct audit firm Arthur Andersen.
Keith Brown, Beacon president, in a statement said the firm's consultants would continue to help clients facing increased competition in the investment industry, pressure to lower fees, and regulations.