Sterci acquires majority stake in Simplex

Sterci acquires majority stake in Simplex

Swiss-based STP vendor Sterci has acquired a majority shareholding in back office software house and Swift Service Bureau operator Simplex Consulting.

Between them, the two entities boast an installed base of over 230 customers in 16 countries, in excess of 50 bureau customers across five countries in Europe, operations in both London and Geneva, and strategic outsourcing agreements with three of the world's largest transaction banks.

The majority 51% shareholding builds upon the 25% equity stake Sterci acquired in Simplex in 2009.

Simon Kalfon, Sterci CEO says: "Both companies have worked very well together as partners, and through acquiring a majority stake in Simplex, we are now even better placed to address global market opportunities."

Financial terms were not disclosed.

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