Capgemini acquires Indian IT firm Thesys

Global consulting, technology and outsourcing services provider Capgemini on Thursday said it has acquired Indian IT firm Thesys Technologies.
Thesys is a Temenos-certified services partner that provides banking implementation solutions to the global financial services industry.

The acquisition would expand Capgemini's global delivery capabilities for Temenos-enabled core banking solutions and product offerings such as retail, corporate, universal, private wealth management, and microfinance to financial institutions, the company said in a release without, however, divulging any financial details.

It would not only strengthen Capgemini's position as a leading core banking and wealth management service provider, but also provide Temenos' current and prospective clients with the opportunity to significantly accelerate speed to market, mitigate risk and enhance operational efficiency, it added.

"Capgemini's global delivery from India is strengthened with the acquisition of Thesys as it enables us to create value for more than 700 existing Temenos clients as well as a large prospective client base. This acquisition reinforces Capgemini's leadership position as a trusted business and technology solutions partner across banking services and wealth management market segments," Capgemini India's executive chairman Salil Parekh said.

The buyout will also help Capgemini to expand its offerings in the Middle-East, Asia-Pacific and Latin America in the packaged core banking platform market. Thesys portfolio of services complements Capgemini's vast financial services sector expertise in business and IT services and its industry leading data migration, testing and project management services.

"Thesys has delivered the highest levels of Temenos implementation services for over a decade. This acquisition will create the industry-leading delivery platform of choice for Temenos-enabled core banking and wealth management implementation services," Thesys CEO Tirunelveli Sivaramakrishnan Jeyaraman said.

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