Capgemini Acquires Thesys Technologies

25 November 2010

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, today announced that it has acquired the India-based IT services company, Thesys Technologies Private Limited (“Thesys”), a Temenos-Certified Services Partner[1] that provides banking implementation solutions to the global financial services industry.

Thesys Technologies, with more than 300 employees has significant experience in offering end-to-end Temenos services including implementation, training, testing, upgrades, product customization, support and maintenance and runs a specialized service delivery platform for T24 – an advanced banking system, in addition to providing specialized tools supported by Thesys Solutions Centers.

The acquisition of Thesys expands Capgemini’s global delivery capabilities for Temenos-enabled core banking front-to back-office solutions and product offerings – such as retail, corporate, universal, private wealth management, Islamic banking and microfinance – to financial institutions, and bolsters Capgemini’s position as a leading core banking and wealth management service provider. Thesys’ highly specialized service delivery infrastructure will expand the scope of Capgemini’s offerings in the Middle East, Asia-Pacific and Latin America and will strengthen its position in the packaged core banking platform market. Its portfolio of services complements Capgemini’s vast financial services sector expertise in business and IT services and its industry leading data migration, testing and project management services. The acquisition of Thesys, to become part of Capgemini’s current offering, should provide Temenos’ current and prospective clients with the opportunity to significantly accelerate speed to market, mitigate risk and enhance operational efficiency.

“Thesys has delivered the highest levels of Temenos implementation services for over a decade. Combining Thesys’s offerings with Capgemini’s global delivery model will create the industry-leading delivery platform of choice for Temenos-enabled core banking and wealth management implementation services,” said Tirunelveli Sivaramakrishnan Jeyaraman, CEO of Thesys.

“The acquisition of Thesys enables Capgemini to create value for more than 700 existing Temenos clients as well as a large prospective client base,” said Aiman Ezzat, Chief Executive Officer of Capgemini’s Financial Services Global Business Unit. “This acquisition helps ensure that Capgemini will maintain a leadership position as a trusted business and technology solutions partner in the retail banking and wealth management market segments.”

Andreas Andreades, Chief Executive Officer of Temenos added, “Given its global reach, rich domain expertise and international standing, the partnership with Capgemini is extremely important for Temenos and will help us offer our customers best-in-class business management and project delivery skills. Thesys has been an important, highly valued and trusted services partner of Temenos and has been providing qualified services for some time. Capgemini’s acquisition of Thesys establishes an exceptionally strong global delivery infrastructure for Temenos and we look forward to working with Capgemini to develop this even further for the benefit of our customers, both existing and new.”

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