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New York-based IT outsourcing and consulting firm Synechron, which has its key delivery centre in Pune, has acquired London-based financial services consulting firm Crossbridge for an undisclosed sum.
Synechron, which employs a total of 5,500 personnel globally, has more than 50 per cent of its personnel based out of India. The deal augments Synechron’s expertise and consolidates its footprint in London and the European markets.
Further, it deepens the company’s expertise and expands offerings to include business and IT transformation, regulatory services, data and financial crime, Synechron said in a statement. “This acquisition has been our major strategic objective to strengthen our presence in London, since starting out in the US financial services industry in the early 2000s,” said Faisal Husain, CEO of Synechron.
This is the third acquisition for the company, which has been looking at acquisitions to accelerate entry into strategic areas, in 2015. In January, the company acquired Team Trade, a Paris-based firm specialising in software integration and business consulting. Later in July, it acquired ‘usable’, a New York-based boutique user interface and user experience design firm. “In an evolving market, we believe Synechron’s technical consulting focus and Crossbridge’s business consulting capabilities together create a full lifecycle of financial services consulting proposition,” said Tony Clark, Managing Partner at Crossbridge.
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