Synechron, a Pune based IT company on Wednesday announced that it will be acquiring Double Effect, an Amsterdam and Singapore based management consultancy. The company specialises in strategy translation and implementation. Faisal Husain, Founder and CEO, Synechron said, “The acquisition of Double Effect,strengthens our ambition of being a company uniquely placed to strategically guide and transform financial institutions through high end management and technology consulting capabilities. Apart from lending strategic skill-sets, the acquisition will also provide us with access to markets such as Europe and emerging markets like Asia Pacific (APAC) where Double Effect has a strong presence. Additionally, our common values of agility and focus on domain intensive consulting makes this acquisition a perfect culture fit. We are confident that their team will be a great asset to us.”
This acquisition will enable Synechron to add Double Effect’s management consulting expertise to its pre-eminent strengths and leadership in high-end technology consulting and delivery. Bas Heijnen & Pablo van den Bosch, Founders of Double Effect said, “Synechron’s impressive credentials and track history in the financial services domain made them the clear choice for us. The financial services industry is at a critical juncture and our association with Synechron will augur well in addressing the business imperatives of these companies. Being a part of the Synechron team will also strongly complement, synergies our existing service offerings and catapult us to our next phase of growth.” Synechron expects the acquisition to further accelerate its fast-track growth. The company has been growing at a CAGR rate of over 35% for the past six years to become a USD $200 mn annualized revenue entity.
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