Capgemini completes Strategic Systems buy

Paris-based IT consulting, services and solutions provider Capgemini today completed the acquisition of UK-based Strategic Systems Solutions (SSS) by acquiring remaining 51 per cent stake of the company.

Capgemini already owned 49 per cent of SSS, will now fully integrates SSS with its existing capital markets unit in the Financial Services Global Business Unit.

Capgemini, which has over 23,300 employees in India, will strengthern its presence in the capital markets sector and provide added strength in the Asia-Pacific region with IT and BPO platforms in China and the Philippines and will reinforce its presence in Singapore.

Founded in 1995 and headquartered in the United Kingdom, SSS is recognized in the capital markets sector and employs 670 professionals across the United Kingdom, United States, Singapore, China and the Philippines.

"The combination of SSS and Capgemini will strengthen our presence in the capital markets sector - a strategic growth area for Capgemini. The acquisition positions us competitively. The clients of SSS and Capgemini will benefit with the deep domain expertise and mature processes of both organisations in the financial services domain both globally and locally," said Salil Parekh, CEO, Financial Services, India and Asia Pacific - Capgemini.