Synechron picks s/w integration player from Paris

PUNE, INDIA: Synechron, an IT company focused on the financial services industry, has announced its acquisition of Team Trade, a Paris-based firm specializing in software integration and business consulting. This acquisition will significantly enhance Synechron’s consulting and systems integration expertise as well as grow its footprint in the European market, says the company.

“The acquisition of Team Trade strengthens our ambition of providing high-end consulting, IT services and software integration for top financial institutions. Team Trade has unique capabilities in software packages such as Murex and Calypso, which are widely used by top financial institutions. Acquiring this skillset has been a top priority for us. In addition, we now have an even richer list of European clients such as BNP Paribas, Crédit Agricole, Natixis, Société Générale and many others,” said Faisal Husain, co-founder and CEO of Synechron. “Synechron and Team Trade share common values and growth plans, making this acquisition a perfect cultural as well as strategic fit. We are confident that their team will add to our expertise and will be a great asset to us.”

Synechron expects the acquisition to further accelerate its fast-track growth. With Team Trade, Synechron’s annualized run-rate revenue will be in excess of $285m. The company has been growing at a compound annual growth rate (CAGR) exceeding 35 per cent for the past six years. Synechron has emerged among the fastest growing technology consulting companies, providing a range of software solutions with a vertical focus in capital markets, insurance, banking and digital sectors; it highlighted in the announcement.

“Synechron’s remarkable credentials and track record in the financial services sphere, combined with a history of consistently delivering industry leading growth rates, made them the clear match for us,” said Pascal Rellier, co-founder and Partner of Team Trade. “Our association with Synechron will make us a formidable partner in addressing the business imperatives of financial services companies at a pivotal time in the industry.”

Following a strategy of organic and inorganic growth, Synechron has acquired four companies in addition to Team Trade over the last six years, including 110 Technologies (specialist provider of testing services to investment banks), SysCore Solutions (enterprise technology strategy and data architecture consulting), Esquire Systems (IT consulting and services company) and Double Effect (management consultancy specializing in strategy translation and implementation).