Technology Holdings is pleased to announce that our client Cityfront has been acquired by Synechron.
Cityfront is an expert in trading systems and provides system integration of capital market platforms such as Murex, Misys Fusion Capital Products, and Calypso, supporting many of the world’s largest banking & financial institutions. Synechron is a global consulting and technology organization providing innovative solutions to the financial services industry through its three main business focus areas: digital, business consulting, and technology. Technology Holdings was the exclusive advisor to Cityfront on the transaction.
Cityfront’s capabilities deepen Synechron’s existing consultancy services while adding trading systems implementation expertise. Cityfront’s specialists add to Synechron’s domain knowledge around integrated trading, risk management, processing and post-trade systems. The combination creates a powerhouse in the market with deep industry and operational expertise, scale, and the economies of agile offshore development.
Faisal Husain, Co-founder & CEO of Synechron said, “Regulators are putting increasing pressure on financial services organizations to enhance their risk management and reporting capabilities. Synechron has been able to combine its systems integration knowledge with its understanding of financial regulation to architect powerful real-time, custom, multi-asset solutions for buy- and sell-side firms. This acquisition continues to build on our depth of experience with key technologies like Murex and Calypso, and we are delighted to welcome Cityfront Group into the Synechron organization.”
Cityfront, Co-Founder Jamie Gallagher said, “2016 has been a strong year for Cityfront, with the regulatory climate driving our business to record revenues. We’ve seen strong interest for our services in the US, Europe and the Middle East, and felt it was time to take our business to the next level. We believed Synechron is the best partner to provide the global reach, offshore capability and scalability our clients’ desire.”
Cityfront, Co-Founder Johann Doassans continued, “We feel our clients will receive tremendous value with the added power of Synechron’s consulting and offshoring capabilities. They are grappling with a difficult global regulatory environment and looking to gain economies of scale with their technology implementations and regulatory and risk reporting. As part of Synechron, we will be able to respond with the agility and experience at a global scale.”