Indian Economy News

Synechron acquires Paris-based consulting firm TeamTrade

  • Livemint" target="_blank">Livemint
  • January 9, 2015

New Delhi: Synechron Technologies Pvt Ltd, an information technology (IT) consulting and outsourcing firm focused on the financial services industry, said on Thursday that it had acquired Paris-based software integration and business consulting company TeamTrade to expand in Europe/

According to the company, with the acquisition, its annual revenue will be in excess of $285 million.

“The acquisition of Team Trade strengthens our ambition of providing high-end consulting, IT services and software integration for top financial institutions,” said Faisal Husain, co-founder and CEO of Synechron.

“Team Trade has unique capabilities in software packages such as Murex and Calypso, which are widely used by top financial institutions. Acquiring this skill set 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,” he said.

This is Synechron’s fifth acquisition in six years. TeamTrade will operate as an independent company after the acquisition.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.