SunGard has acquired GTI Consultants (GTI), a specialist consultancy firm providing IT services to French financial institutions.
GTI will become part of SunGard's Cadextan business unit, an established provider of IT services and skills to the French finanial community. The transaction, the terms of which have not been disclosed, is not expected to have a material impact on SunGard's financial results.
Founded in 1982 by Maurice Lefassy, GTI comprises more than 100 consultants with expertise in retail banking and insurance. With the addition of GTI, SunGard's Cadextan business unit will grow to more than 500 consultants, representing one of the largest pools of specialist finance and IT consultants in France.
SunGard says the acquisition will strengthen its position in asset management and investment banking in France and will help to deepen its relationships with some of France's largest financial services institutions.
The combined business will be headed by Didier Neyrat, president of SunGard's European consulting services business.
"The acquisition of GTI will help us offer greater depth and breadth of consulting services to new and existing customers in France," he says.