Acquisition enhances market share in London and deepens financial services expertise & offerings
Pune, September 30, 2015: Pune based company Synechron, the largest independent pure-play technology consulting and outsourcing provider for the financial services industry, today announced the acquisition of Crossbridge, a specialist financial services consulting firm based in London.
The acquisition deepens Synechron’s strong financial services expertise and expands its offerings to include Business and IT Transformation, Regulatory Services, Data, and Financial Crime. The deal extensively augments Synechron’s consulting expertise and consolidates its footprint in the London financial services community and the European market.
“This acquisition is an important milestone for us and it has been our major strategic objective to strengthen our presence in London, since starting out in the U.S. financial services industry in the early 2000s,” said Faisal Husain, co-founder and CEO of Synechron.“Crossbridge’s strong financial services capabilities matched with our unparalleled client service promise and acumen across the financial, business and technology sectors make this collaboration an incredibly fruitful opportunity for us to continue servicing our clients with a gold standard.”
Synechron’s aggressive growth strategy combines a foundation of strong organic growth with an acquisition approach to accelerate entry in strategic areas and geographies. The Crossbridge transaction marks the third acquisition in 2015 and a continuation of an effort to enhance the delivery of Synechron’s core values: Customer Satisfaction, Integrity, Excellence, Execution and Agility. Synechron’s previous 2015 acquisitions include:
· Usable: a NYC-based boutique UI/UX design firm, acquired to strengthen and further expand Synechron’s digital design and user interface/user experience capabilities.
· TeamTrade: a Paris-based firm specializing in software integration and business consulting acquired to enhance Synechron’s consulting and systems integration expertise.
Speaking about the acquisition, Tony Clark and Richard Squire, Managing Partners of Crossbridge said,“Our clients have been looking to us to rapidly grow the Crossbridge consulting services, capacity and global footprint, so joining forces with Synechron is a great strategic move. We are delighted to be part of a team with technical depth and scale, which is absolutely well aligned with our Transformation, Regulation, Financial Crime, Data and Digital practice areas. In a rapidly evolving market, we believe that the amalgamation of Synechron’s technical consulting focus and Crossbridge’s business consulting capabilities creates a leading, full lifecycle financial services consulting proposition.”
About Synechron: Synechron, the largest independent pure-play technology consulting and outsourcing provider for the financial services industry is a $300 million firm based in New York. Since inception in 2001, Synechron has been on a steep growth trajectory. With 5,000+ professionals operating in 16 countries across the world, it has presence across U.S., Australia, Canada, UK, Japan, The Netherlands, Hong Kong, Singapore, UAE, Ireland, Germany, Switzerland, Luxembourg, Italy, France, and Development Centers in India.
About Crossbridge: Crossbridge is a specialist consultancy focused exclusively on Financial Services. Crossbridge helps clients address critical business priorities covering technology, operational strategy and change across functions, locations and product lines, through four practice areas: Regulatory Services, Financial Crime, Data and Business & IT Transformation. Established in 2008 in London, Crossbridge’s specialist consultants provide expertise and practical experience in solving current industry challenges to top tier clients.