Digital Transformation consulting firm for the financial services industry, Synechron has acquired Attra, a technology services and solutions provider, headquartered in Melbourne, and focused on the banking, finance, and payments industries.
Attra is one of the pure play payments solutions providers with a global delivery footprint in Australia, New Zealand, North America, Europe, the Middle East, and APAC. It has development centers in Melbourne, Australia; Dubai, UAE; and Bengaluru, Hyderabad, and Pune, India.
Founded in 1995, the Australia-based firm’s core offerings span the entire software lifecycle, with end-to-end offerings across four key industry verticals – FI and Payment Companies, Third-party Payment Processors and Payment Gateways, Retailers, and Next-Generation Payments.
Synechron will further strengthen its technology capabilities through the addition of Attra’s core technology horizontals focused on Payment & Banking Platforms; Intelligent Automation; IT Infrastructure & Cloud; UI/UX, Mobility & Channels; and Information Management.
Post-acquisition, the payments solutions provider will retain its brand identity but become a Synechron company. It’s global team of around 2,000 technology experts in the banking and payments domains will add to consulting firm’s pool of employees. This alignment will enable both to further expand its geographic span and also enable the co-development of future-looking solutions.
Terms of the deal have not been disclosed. Avendus Capital is Attra’s financial advisor on this transaction.
Faisal Husain, Co-founder and Chief Executive Officer of Synechron, explained, “We provide our clients with a comprehensive set of digital transformation capabilities and the acquisition of Attra enables us to strengthen our service offerings. Moving forward, our combined workforce will top 10,000 employees and annual revenue of $650M+. The enhanced competencies that Attra brings will allow us to further advance our clients’ banking & digital payment technology services while ensuring regulatory compliance.” He added, “Attra’s end-to-end payments technology services will blend nicely with our digital innovation that is at the very core of Synechron’s DNA. We welcome the Attra team into the Synechron family.”
Chris van Buuren, CEO of Attra, commented, “The payments industry is experiencing a full-fledged digital transformation that is being fueled by exciting new technology advancements and regulatory and competitive changes. We are very excited to join with the passionate team at Synechron as we continue our mission to be strategic partners with organizations in the financial services industry and empower them with a full suite of digitally-led technology services and solutions in payments.”
This acquisition of Attra marks the second acquisition Synechron has closed in the past six weeks. On October 23, Synechron announced its acquisition of Citihub Digital, a London and New York-based technology consulting firm for the financial services industry.
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.