Capgemini acquires IT firm Thesys Tech

MUMBAI: BPO provide Capgemini, today announced that it has acquired the India-based IT services company, Thesys Technologies Private Limited ("Thesys"), a Temenos-Certified Services Partner that provides banking implementation solutions to the global financial services industry.

The acquisition of Thesys expands Capgemini's global delivery capabilities for Temenos-enabled core banking front-to back-office solutions and product offerings - such as retail, corporate, universal, private wealth management, Islamic banking and microfinance - to financial institutions, and bolsters Capgemini's position as a leading core banking and wealth management service provider, said a press release.

Thesys' highly specialized service delivery infrastructure will expand the scope of Capgemini's offerings in the Middle East, Asia-Pacific and Latin America and will strengthen its position in the packaged core banking platform market.

Its portfolio of services complements Capgemini's vast financial services sector expertise in business and IT services and its industry leading data migration, testing and project management services.

"Thesys has delivered the highest levels of Temenos implementation services for over a decade. Combining Thesys's offerings with Capgemini's global delivery model will create the industry-leading delivery platform of choice for Temenos-enabled core banking and wealth management implementation services," said Tirunelveli Sivaramakrishnan Jeyaraman, CEO of Thesys.

"Capgemini's global delivery from India is strengthened with the acquisition of Thesys as it enables us to create value for more than 700 existing Temenos clients as well as a large prospective client base. This acquisition reinforces Capgemini's leadership position as a trusted business and technology solutions partner across banking services and wealth management market segments," said Salil Parekh, executive chairman, Capgemini India.

Andreas Andreades, chief executive officer of Temenos added, "Capgemini's acquisition of Thesys establishes an exceptionally strong global delivery infrastructure for Temenos and we look forward to working with Capgemini to develop this even further for the benefit of our customers, both existing and new."