SunGard closes Syntesys acquisition

Source: SunGard

SunGard has completed its acquisition of Syntesys, a European Swift service bureau and network of business and technical experts dedicated to serving the Swift community.

The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.

The Syntesys acquisition will strengthen SunGard's AvantGard Ecosystem Communication Hub (Echos) offering by expanding service bureau delivery capacity and locations as well as adding a suite of SWIFTReady services. SunGard's AvantGard Echos provides managed connectivity for corporations and financial institutions with access to a suite of services such as electronic bank account management (eBAM), statement aggregation and bank fee analysis. The management and staff of Syntesys will join SunGard and will be based in France, the United Kingdom, Switzerland and Germany.

Adyl Sayagh, chief executive officer of Syntesys said, "The addition of Syntesys solutions to the SunGard offerings will help our corporate and banking customers gain easier and faster connectivity. Our services help banks deliver greater value to their corporate customers while helping corporations streamline their connectivity."

"The addition of Syntesys will help us offer an expanded set of managed services around SWIFT connectivity while also increasing our service bureau capacity in EMEA," said Scott Coffing, president of SunGard's corporate liquidity business. "Corporate treasurers are also looking for more services to be delivered through the bank communication channel including eBAM. In order to help meet this requirement, SWIFT has selected SunGard for its eBAM Central Utility Pilot to help corporations achieve straight-through-processing of eBAM messages. Now, with Syntesys, we can also offer a suite of services to assist with onboarding as well as increased delivery capacity." 

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