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Sterci announces acquisition of majority shareholding in Simplex

Sterci, the international leader in financial messaging technology, announced today that it has acquired a majority shareholding in Simplex, the market leading global transaction services provider.

The acquisition represents a powerful consolidation of the joint Sterci/Simplex Global Transaction Platform, with the two companies boasting a seamlessly integrated technology stack with an installed base of over 240 banks, financial institutions and corporate customers in 19 countries with a global reach spanning four continents.

The majority 51% shareholding builds upon the 25% equity stake Sterci acquired in Simplex in 2009. Simplex was the first independent SWIFT Service Bureau in the UK and is the major ‘white-label’ managed payments service provider to two of the largest global banks, HSBC and RBS. With over 25 years experience in financial messaging, Sterci is an international leader in the development of serviceoriented architecture software products for straight through processing. Sterci/Simplex Global Transaction Platform has operations centres in London, Geneva, Paris, Toronto, New York and Singapore.

Simon Kalfon, Chief Executive Officer of Sterci, said “Bringing Simplex within the Sterci Group is excellent news for both companies and allows us to better develop our market-leading unified service solution. The acquisition will bring multiple operations centers to our Global Transaction Platform and lays the foundation for the further expansion of our global customer base. Both companies have
worked very well together as partners, and through acquiring a majority stake in Simplex, we are now even better placed to address global market opportunities.”

Philip Walsh, Chief Executive Officer of Simplex said “This transaction is the logical development of our ever closer working relationship with Sterci. This more formal combination of Simplex with Sterci considerably enhances our ability to deliver innovative and superior compliance solutions and transaction services to the world's largest and most demanding customers.”