Sofgen buys assets of Singapore T24 consultancy Y-Axis

Source: Sofgen

Sofgen Holdings Limited, an international provider of IT solutions for banks, has completed the acquisition of the assets of Y-Axis Technologies Pte Ltd (Y-Axis), a Singapore-based Temenos T24 consultancy with clients around the globe.

Effective 01 May 2011, Ramkumar Sarma, Founder and General Manager of Y-Axis, is appointed Sales Director, SOFGEN Middle East.

Mr. Sarma commented, "This transaction will allow SOFGEN to expand in the Middle East, by leveraging the relationships that Y-Axis has established in the region."

Danny Galezer, Managing Director, Projects and Delivery, said, "Y-Axis brings to SOFGEN a talented and experienced team of bankers and engineers. The combination of the SOFGEN and Y-Axis businesses will allow us further to extend our delivery capability, building upon the provision of quality services that our customers have come to expect from us."

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