French tech firm Capgemini acquires Strategic Systems Solutions
Leading Paris-based information technology consultancy, solutions services vendor Capgemini has declared that it has bought out the entire Strategic Systems Solutions (SSS), an information technology and business process outsourcing services firm in the domain of capital markets with a view to enhance its existence in the capital markets segment as well as to increase new platforms in the Philippines and China.
A business website reports that before the buy out, Capgemini held 49 per cent of the UK-based Strategic Systems Solutions, and after the acquisition the French tech firm indents to completely fully incorporate SSS with its capital markets division – the Financial Services Global Business Unit. The acquisition will strengthen French tech firm’s presence in the capital markets sector and provide added strength in the Asia-Pacific region, with information technology (IT) and BPO (business process outsourcing) platforms in the China and the Philippines as well as strengthen its presence in Singapore. At the same time, Capgemini expects to expand its client base to include a number of the major and most recognized financial institutions worldwide.
According to Capgemini chief executive officer (Financial Services Global Business Unit), Aiman Ezzat, the acquisition is expected to benefit the firm’s clients since Capgemini not only has profound know-how in the capital market sector, but also possesses global reach and pioneering technology solutions. Ezzat further stated that the acquisition of SSS highlights a cohesive approach to accomplish a viable position in the domain of capital markets and will definitely do good to do good to the clients of Capgemini and SSS in availing advanced solutions and facilities locally as well as internationally.
On the other hand, another news portal quotes Strategic Systems Solutions CEO Owen Weeks as saying that the acquisition would augment their position in the market, since now SSS would be ready for leveraging the strength and brand value of Capgemini. He added that the SSS clients would gain from the profound expertise in the capital markets segment.
It may be mentioned here that SSS, a recognized brand in the capital markets segment, was established in 1995 with its headquarters in the UK. The company has 670 professionals on its rolls and they are based at the firm’s hubs in the UK, the United States, the Philippines, China and Singapore. On the other hand, Capgemini is a globally leading vendor of technology, consulting and outsourcing services and assists its clients to make over and execute through technologies. The French firm has operational centers in over 30 countries employing around 90,000 professionals across the globe.