Synechron acquires Australian firm Attra

Mumbai: Pune-based IT company Synechron on Friday announced the acquisition of an Australian technology services and solutions provider Attra. However, Synechron did not disclose the deal consideration, but announced that the acquisition is its biggest yet and will increase top-line by $ 100 million to $ 650 million, and also add 2,000 employees to take its overall headcount to over 10,000.

The Australian company focuses on serving clients in the banking and finance space. Melbourne-headquartered Attra was incorporated in 1995 and provides consulting, application development, maintenance and engineering services to clients across the payments value chain worldwide, as per a statement. "The acquisition of Attra, enable us to strengthen our service offerings. The enhanced competencies that Attra brings will allow us to further advance our clients' banking and digital payment technology services while ensuring regulatory compliance," Synechron's co-founder and chief executive Faisal Husain said.

The statement from Synechron said Attra will retain its brand identity, but become a Synechron company and the combined business will be able to have a larger geographical footprint. "The payments industry is experiencing a full-fledged digital transformation that is being fuelled by exciting new technology advancements and regulatory and competitive changes," Attra's chief executive Chris van Buuren said.

This is the second acquisition closed by Synechron in the last six weeks after it announced the acquisition of Citihub Digital, a London and New York-based technology consulting firm in late October. (PTI)