SunGard has acquired Toronto-based Stratix Consulting, a leading provider of IT consulting services to Canada'sfinancial services companies.
Specializing in capital markets, wealth and investment management, and insurance, Stratix Consulting has delivered IT management consulting and implementation services for customers since 1996. Terms of the transaction, which is not expected to have a material financial impact on SunGard, were not disclosed.
Stratix Consulting will be part of SunGard's Global Services business, which combines business consulting, technology and professional services for financial services firms, energy companies and corporations.
Cedric Packham, president and managing partner of Stratix Consulting, said, "Joining SunGard gives us the opportunity to undertake much larger initiatives. It will also help us provide a fully integrated service offering to our customers by adding application development, testing and systems integration to our implementation services practice, while also expanding service offerings within our management consulting practice." As part of SunGard Global Services, Mr. Packham will become managing partner of the financial services practice in Canada, reporting to Doug Wendler, president of SunGard Global Services in the Americas.
"The acquisition of Stratix Consulting supports our commitment to providing comprehensive business and technology solutions to the financial services industry in Canada," said Mr. Wendler. "Stratix Consulting brings a strong management team and focus on the Canadian financial services industry. Stratix has deep knowledge and experience in the capital markets, wealth management and insurance sectors, and with offices in Toronto and Montreal, Stratix will help position SunGard to better serve our Canadian financial services customers."