Capgemini buys IT services firm Thesys

IT consulting major Capgemini has snapped up domestic IT services firm Thesys Technologies for an undisclosed amount, an acquisition that will boost the French entity's global delivery capabilities.

Capgemini, which has a good presence in India, is a provider of consulting, technology and outsourcing services.

"The acquisition of Thesys expands Capgemini's global delivery capabilities for Temenos-enabled core banking front- to back-office solutions and product offerings. . .," Capgemini said.

Temenos is a widely-used banking software system developed by Geneva-based Temenos Group AG.

Without disclosing the financial details of the acquisition, Capgemini said the buyout would boost its position in the packaged core banking platform market.

Thesys Technologies, which has over 300 employees, offers banking implementation solutions to the global financial services industry.

According to the statement, Thesys' highly specialised service delivery infrastructure will expand the scope of Capgemini's offerings in West Asian, Asia-Pacific and Latin America.

"Capgemini's global delivery from India is strengthened with the acquisition of Thesys, as it enables us to create value for more than 700 existing Temenos clients, as well as a large prospective client base," Capgemini India executive chairman Salil Parekh said.