Simplex Consulting Limited and Sterci S.A. Unite in Equity Transaction

London - 25 November 2009

Simplex Consulting Limited “SCL” today announced that it had completed an agreement for Sterci S.A “Sterci” to acquire 25% of its equity.

Based on Europe-wide coverage, quality of customer base, and market feedback, Simplex and Sterci now have the most sophisticated and robust value-added SWIFT service bureau in Europe. The two entities boast a seamlessly integrated technology stack with an installed base of over 230 customers in 16 countries, in excess of 50 bureau customers across 5 countries in Europe, operations in both London and Geneva, and strategic outsourcing agreements with three of the world’s largest transaction banks.

Philip Walsh, Chief Executive Officer of Simplex said “This transaction represents a key milestone in our strategy. Based on market demand for the two companies’ capabilities, we had been planning a more integrated market approach for some time. Our customers have been particularly helpful in drawing our two companies together by urging us to address the much broader market opportunity that our combined solution provides. We are now extremely well positioned to address the European opportunity and with Sterci’s recent opening of a Singapore office, we will now look to lay the foundations for global expansion”

Simon Kalfon, CEO of Sterci said: “We are extremely pleased to have forged an integrated proposition with Simplex. Both companies have always worked very well as partners but this level of formal integration allows both companies to address larger market opportunities as a unified entity. Sterci’s market leading technology combined with Simplex’s ability to implement and manage large and complex outsourcing projects means that both companies can now capitalize on their strengths, with all our customers being the ultimate beneficiaries.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development