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Technology Holdings advises Financial Services specialist Citihub Digital on its sale to Synechron

Oct 2020
Has been acquired by

Financial Services Consulting, Cloud & Cybersecurity

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Technology Holdings advises Financial Services specialist Citihub Digital on its sale to Synechron
Seller Citihub Digital
Buyer Synechron
Focus Sector Financial Services Consulting, Cloud & Cybersecurity
Date October 2020

Technology Holdings is pleased to announce that it has acted as the exclusive advisor to Citihub Digital on its strategic sale to Synechron.

quote Technology Holdings' deep understanding of the banking, financial services and insurance industry landscape from a technology solutions, cloud, digital and consulting perspective, and strong strategic buyer relationships globally helped us find the right strategic partner in Synechron. Their offices in North America, Europe and Asia matched our global presence and enabled them to support our transaction discussions seamlessly. Their guidance through the process was valuable and the outcome leaves Citihub Digital well positioned for the next exciting stage in our journey.
Chris Allison Managing Director, Citihub Digital

Citihub Digital partners with AWS, Microsoft Azure and Google Cloud and specializes in complex digital transformation including cloud enablement, application modernization, cybersecurity and operating model transformation for the banking, financial services and insurance industry. With offices in the global financial hubs of London, New York, Hong Kong and Toronto, Citihub works with 9 of the top 10 global banks. Citihub Digital brings Synechron a team of senior level consultants with an average of 15 to 25 years of experience and deep expertise across banking and capital markets.

Headquartered in New York and with 18 offices around the world, Synechron helps accelerate digital initiatives for banks, asset managers, and insurance companies globally. With over 8,000 employees, it is one of the largest FinTech companies. Synechron’s innovation work and Citihub’s stellar competencies will lead to continued growth for the combined firms specifically in key financial markets including North America, Europe and APAC.

Faisal Husain, Co-founder and Chief Executive Officer of Synechron explained, “This acquisition continues to build on our depth of expertise in Digital Transformation consulting for financial services and insurance firms. Citihub Digital’s senior consultants specialize in bringing together business domain and technical topics which require knowledge across multiple capabilities such as strategy, application development and cybersecurity, making them a perfect fit with Synechron’s existing capabilities. I am proud to welcome Citihub Digital into Synechron.”

Chris Allison, Co-founder and Managing Director of Citihub Digital said, “We have seen a significant amount of growth in the last year, and Synechron is the best partner to enable us to take that to the next level. We were impressed with the investments Synechron has made in its Financial Innovation Labs (FinLabs) in key financial markets, its R&D efforts and its award-winning Accelerators to lead the industry in areas like AI, Data Science, InsurTech, WealthTech, RegTech and Blockchain. We firmly believe that our clients will receive enormous value with the added power and global scale that Synechron can provide.”

Vivek Subramanyam, Founder & CEO of Technology Holdings, said “This transaction is a further testament to Technology Holdings’ deep expertise in advising category leaders in banking, financial services & insurance software, services and consulting, with the Citihub Digital transaction being our 19th transaction in the space”.

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