Capgemini has acquired India-based Temenos implementation partner Thesys Technologies. Terms of the transaction were not disclosed.
Established in 1999, Thesys employs 300 staff from offices in Chennai and Bangalore in India and subsidiaries in UK and UAE. The company offers a range of end-to-end Temenos services and implementation tools for the T24 core banking platform.
Capgemini says the acquisition will expand its reach in the Middle East, Asia-Pacific and Latin America and will strengthen its position in the packaged core banking platform market.
The take-over comes just six months after Capgemini inked a global sales, service and delivery deal with the Swiss-based core banking vendor, aimed at creating an international network of Temenos support and project management experts.
"The acquisition of Thesys enables Capgemini to create value for more than 700 existing Temenos clients as well as a large prospective client base," says Aiman Ezzat, CEO of Capgemini's financial services 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."