Synechron to expand with Team Trade acquisition
Synechron buys financial software integration and consulting specialist Team Trade
Financial sector consulting and outsourcing provider Synechron has acquired Team Trade, a Paris-based firm specialising in software integration and business consulting.
The move is intended to enhance Synechron's consulting and systems integration expertise as well as grow its footprint in the European market.
Team Trade will operate as an independent company after the acquisition and will continue to take the joint value proposition to its customers.
"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."
With Team Trade, Synechron's annualised run-rate revenue will be in excess of $285m. Synechron provides a range of software solutions with a vertical focus in capital markets, insurance, banking and digital sectors.
Financial details of the deal were not disclosed.
"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. We are excited about using Synechron's global footprint, leveraging its global delivery and deep roots in the US market."