UniCredit, Accenture (NYSE: ACN) and IBM have announced a long-term strategic collaboration aimed at restructuring the technology infrastructure supporting UniCredit's operations across 13 European markets, according to a press release.

As part of the agreement, Accenture will acquire from IBM a majority stake in a joint venture that currently manages a significant portion of UniCredit's technology infrastructure. IBM will continue to provide technology platforms to UniCredit, including IBM Z hardware, software, and consulting services.

The companies said the arrangement is the start of a multi-year program to update the bank's systems and operating model, combining what they described as mission-critical system resilience with cloud, data, and artificial intelligence capabilities.

Ali Khan, Group Digital and Information Officer at UniCredit, said the partnership "marks an important milestone in building the next generation of our banking platform," adding that it is intended to help the bank "scale artificial intelligence responsibly across the Group."

Mauro Macchi, Chief Executive Officer of Accenture EMEA, said the collaboration is "built to scale across markets," citing cloud, data, and AI adoption as key objectives.

Ana Paula Assis, Senior Vice President and Chair of IBM EMEA and APAC, said the agreement combines "modern infrastructure with UniCredit's hybrid cloud architecture."

Completion of the transaction remains subject to regulatory approvals and applicable consultation procedures. No financial terms were disclosed.