The outsourcing provider for the financial services industry, Synechron has formally announced its acquisition of Crossbridge, a specialist financial services consulting firm based in London.
The company asserts that 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. According to the release, the deal will extensively augment Synechron’s consulting expertise and consolidate 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.”
Further citing on 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.”
After successful procurement of usable and TeamTrade, this happens to be the third acquisition for Synechron in 2015.