HYDERABAD: In a bid to provide global reach to its products, Wilco
International, a wholly-owned subsidiary of ADP Inc., has signed an agreement
with the Terence Chapman Group PLC for the acquisition of the UK-based TCA
Synergo. The agreement, which is subject to shareholder approval later this
month, includes the assets and business of TCA Synergo, including the TAROT2000
e-broking and its private client investment management system.
Some of TCA Synergo’s clients include Barclays Stockbrokers, Charles
Schwab, Corporation of Lloyd's, Edward Jones, Halifax Share Dealing, NCB
Stockbrokers and Tilney Investment Management.
The acquisition is part of Wilco's strategy to extend its product reach in
the global retail securities markets and follow the acquisition of the
Australian retail solution SUMMIT. The acquisition of TCA Synergo includes over
100 staff currently working in TCA Synergo's London office. The Terence Chapman
Group is divesting the TCA Synergo business to enable TCA Consulting to converge
its focus on strategies to become a leading provider of IT-related services in
the finance sector.
Commenting on the acquisition, Wilco International CEO Steve Bloomer said:
"This is the latest development in our strategy for the international
retail markets. It also represents another contribution by Wilco that will
further extend the functional coverage of ADP's strategic platform, the Global
Processing Solution (GPS).
Wilco is an international software and services provider, specializing in
solutions to support retail and institutional STP operations, e-brokerage and
outsourcing. It is represented globally through its regional offices in London,
New York, Toronto, Hong Kong, Tokyo, Frankfurt, Geneva and Hyderabad. Wilco has
several international clients such as Goldman Sachs, Nomura, Merrill Lynch,
Deutsche Bank and UBS Warburg.