Speridian Technologies, the leading provider of Information Technology solutions for global businesses, today announced that it has acquired a majority stake in Sesame Software, a Kozhikode-based Financial technology solutions provider.
Founded in 1993, Sesame is an ISO certified company with rich experience in the banking vertical. Sesame has successfully delivered Core Banking Solutions (CBS) to hundreds of customers including Co-operative banks with more than 950 branches. They were the first to implement CBS successfully in an urban bank in Kerala.
This acquisition will further boost Speridian's ambitious growth plans for the coming years, by enabling their foray into additional service verticals. Empowered by the global presence of Speridian, this will also strengthen Sesame's industry leadership while ensuring success for the group in today's ever-changing IT landscape.
"Sesame's strong thought leadership and product portfolio, deep business knowledge, coupled with Speridian's ability to deliver large-scale technology implementations, advances our ability to add value and differentiate our brand," said Girish Panicker, CEO, Speridian Technologies. "This investment presents an important strategic opportunity for Speridian to offer technology solutions, consulting services and cost savings for banks and other financial services providers, while maximizing return on investment."
"We are excited to join the Speridian Group of Companies and believe that we can leverage Speridian's robust global sales and marketing strategies to boost our rapid growth in the financial services sector. This acquisition adds to our capacity and geographic presence and enables us to deliver exceptional service to our customers and prospects," said Vinod VC, Founder and Managing Director, Sesame Software.
"Speridian India has been seeing a steady growth in terms of new clients and projects and we have seen keen interest with regards to domain specific solutions. Sesame's well established Core Banking Solution will be an asset to our expanding product portfolio. Together, we hope to serve the Banking sector and achieve new heights," said Satish Ganta, Head of India Operations, Speridian Technologies.
"Speridian's expertise in implementing large scale technology projects for global clients is a great value addition for us to scale our services. It will allow us to manage growth, attract and retain superior talent, ramp up our technology infrastructure and strengthen the brand," said Vinod P, Director & Head-Banking Services, Sesame Software.