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November 24, 2010

Capgemini acquires Temenos service provider Thesys

Core banking and wealth management implementation services

By CBR Staff Writer

Capgemini has acquired Thesys Technologies, a provider of Temenos services, to strengthen its position as a leading core banking and wealth management service provider.

Thesys Temenos services include implementation, training, testing, upgrades, product customisation, support and maintenance of platform for T24, a banking system.

Thesys said that by combining its offerings with Capgemini’s global delivery model will create the delivery platform of choice for Temenos-enabled core banking and wealth management implementation services.

This acquisition will expand Capgemini’s global delivery capabilities for Temenos-enabled core banking front-to back-office offerings and product offerings including retail, corporate, universal, private wealth management, Islamic banking and microfinance to financial institutions.

The company said that the Thesys’ 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 financial services global business unit CEO Aiman Ezzat said the acquisition of Thesys enables Capgemini to create value for more than 700 existing Temenos clients as well as a large prospective client base.

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"This acquisition helps ensure that Capgemini will maintain a leadership position as a trusted business and technology offerings partner in the retail banking and wealth management market segments," Ezzat said.

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