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Synechron, an IT company focused on the financial services industry, reports that it has acquired Paris-based Team Trade, a specialist in software integration and business consulting.
The acquisition is expected to “further accelerate” Synechron’s “fast-track growth,” the company says in a statement. “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.”
In addition to Team Trade, Synechron has acquired four companies over the past six years, the company notes. They are: 110 Technologies, a provider of testing services to investment banks; SysCore Solutions, a provider of enterprise technology strategy and data architecture consulting; Esquire Systems, an IT consulting and services company; and Double Effect, a management consultancy.
Synechron officials says the latest acquisition will “grow its footprint in the European market,” the company says. And Faisal Husain, Synechron’s co-founder and CEO, specifies in the statement that “we now have an even richer list of European clients such as BNP Paribas, Crédit Agricole, Natixis, Société Générale and many others.
“Team Trade will operate as an independent company after the acquisition and will continue to take the joint value proposition to its customers,” the statement also notes
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