Capgemini acquires Chennai-based IT service firm Thesys Technologies

Capgemini, the Paris-based $11.6 billion turnover consulting, technology and outsourcing services firm, today acquired Chennai-based IT services company, Thesys Technologies Private Limited, in a bid to strengthen its global core banking and wealth management capabilities.

Thesys, which has been certified under ISO 9001:2008 quality system, is a Temenos-certified services providerthat provides banking implementation solutions to the global financial services industry. It has created an exclusive Thesys Solutions Centre to develop innovative solutions and deliver specialised services that help banks to further leverage their investment.

 Established in 1999, Thesys has offices in Chennai and Bangalore in India and subsidiaries in the UK and the UAE.

 Paris-based Capgemini, which did not reveal the financial terms of the transaction, said that the acquisition will expand its global delivery capabilities for Temenos-enabled core banking front-to back-office solutions and product offerings - such as retail, corporate, universal, private wealth management, Islamic banking and microfinance - to financial institutions, and bolsters Capgemini's position as a leading core banking and wealth management service provider.

Thesys's specialised service delivery infrastructure will expand the scope of Capgemini's offerings in the Middle East, Asia-Pacific and Latin America and will strengthen its position in the packaged core banking platform market.

 Capgemini also said that Thesys' portfolio of services complements its own vast financial services sector expertise in business and IT services and its industry leading data migration, testing and project management services.