New York-based Synechron, a high-end software solutions and services provider headquartered in New York, has formally announced the acquisition of UAE-based IT consulting and services company Esquire Systems.

Synechron specialises in banking, insurance and financial technology services including treasury and risk management, fraud detection and compliance.

This acquisition will put Synechron in the spotlight to expand its domain capabilities and proven world-class delivery dervices in the Gulf markets, the US firm said in a statement.

Esquire is broad-based IT services company that offers a wide array of solutions customized for a range of clients in the areas of designing and implementing IT solutions, it added.

Commenting on the deal, Faisal Husain, CEO of Synechron, said, 'Like our past acquisitions in the US, this one is also aimed to capitalize on the significant synergies of our two companies.'

'We want to match Esquire Systems’ local presence and long standing relationships with our deep rooted strength in high end technology delivery especially in the niche areas of cloud computing, IT strategy and architecture and mobile development along with application development, business intelligence and managed services,' he noted.

In the past 4 years of its presence in UAE, Synechron has marked significant growth, he stated.

“The Gulf markets are showing strong indications of stability and growth and this acquisition will further solidify our presence,” he added.
 
Esquire Systems founder and CEO Anil S. Nair said, “We are confident of leveraging Synechron’s global experience of financial services technology and offshore delivery capabilities to the benefit of our esteemed clients in the UAE and to offer an enriched gamut of services.”

Founded in 2001, Synechron focuses on the capital markets, insurance, mortgage banking and digital media verticals across the globe.

The company has a major presence across the US, UK, UAE, Japan, Singapore, Holland and hitech development centers based in Pune, India.-TradeArabia News Service