Accenture (ACN) received clearance to acquire sole control of Italy-based VTS, the European Commission said Tuesday. The deal focuses on providing information technology services for the banking industry, the commission said.

The acquisition will not create antitrust issues because of the small combined market presence of the firms, it said.

The transaction was reviewed under the European Union's simplified merger review procedure, the Commission said.

Financial terms and an expected closing date were not disclosed in the Commission's announcement.