Synechron, an information technology company focused on the financial services industry, is increasing its global presence with its latest acquisition.
The New York company announced Thursday that it had bought Team Trade, a Paris firm that specializes in software integration and consulting. Synechron said in a press release that the deal would enhance its presence in Europe.
"We now have an even richer list of European clients such as BNP Paribas, Crédit Agricole, Natixis, Société Générale and many others," Faisal Husain, Synechron's co-founder and chief executive, said in the release.
The deal also helps the company improve its consulting and integration expertise. Team Trade has "unique capabilities in software packages such as Murex and Calypso," Husain said. "Acquiring this skill set has been a top priority for us."
The deal, Synechron's fourth acquisition in the last six years, is expected to push the company's annual revenue to $285 million, compared to $250 million last year.