New York / Paris / Pune, January 08, 2015 -- /EPR NETWORK/ -- Synechron, one of the fastest growing global IT companies focused on the financial services industry, today 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.
“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 USD. The company has been growing at a compound annual growth rate (CAGR) exceeding 35% 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.
“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 U.S. market.”
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). Collectively, these deals have added depth and breadth to Synechron’s strategic end-to-end service offerings, a solid talent base, and access across specific vertical and horizontal markets.
Team Trade will operate as an independent company after the acquisition and will continue to take the joint value proposition to its customers.
Synechron, the largest independent pure-play consulting and outsourcing provider for the financial services industry is a $250-million firm headquartered in New York. Since starting in 2001, Synechron has been on a step growth trajectory – it has 5,500+ professionals and operates in 12 countries across the world. It has presence across the US, Canada, UK, The Netherlands, Ireland, Germany, UAE, Japan, Hong Kong, Singapore, Australia, and state-of-the-art Development Centers based in Pune, India.
The company is a business aligned technology services provider with proven capabilities in software application development, product development, application management, and systems and technology integration services. Its services are strategically aligned with clients’ business needs for growth, profitability optimization, efficiency, and compliance transparency. Synechron meets the challenges of its clients in such industries as Capital Markets, Insurance, Banking, and Digital.
About Team Trade:
Team Trade is a leading business consultancy and IT services company dedicated exclusively to the financial services industry. It assists clients with the organization and construction of their information systems. Over the past several years, Team Trade has acquired extensive expertise in the field of financial software solutions. Founded in Paris in 2000, Team Trade today has subsidiaries in Geneva, Luxembourg, London, Milan, Montreal, New York, Novi Sad, Singapore and Sydney.
Contact-Details: Kulwinder Singh
Director – Global Marketing & Communication, Synechron