New York-based IT consulting firm Synechron has announced the acquisition of Citihub Digital, a London and New York-based technology consulting firm for the financial services industry for an undisclosed amount. The acquisition expands Synechron's existing capabilities and strength in areas across the digital enterprise.
With this acquisition, Citihub Digital brings Synechron a team of senior-level consultants with an average of 15 to 25 years of experience and expertise across banking and capital markets.
Post-acquisition, the firms will service many of the biggest logos in financial services including 9 of the top 10 global banks and will present clients with a comprehensive set of digital transformation capabilities, said the company.
“This acquisition continues to build on our depth of expertise in Digital Transformation consulting for financial services and insurance firms. Citihub Digital's senior consultants specialize in bringing together business domain and technical topics which require knowledge across multiple capabilities such as strategy, application development and cybersecurity, making them a perfect fit with Synechron's existing capabilities,” said Faisal Husain, Co-founder and Chief Executive Officer of Synechron.
“We have seen a significant amount of growth in the last year, and Synechron is the best partner to enable us to take that to the next level. We were impressed with the investments Synechron has made in its Financial Innovation Labs (FinLabs) in key financial markets, its R&D efforts and its award-winning Accelerators to lead the industry in areas like AI, Data Science, InsurTech, WealthTech, RegTech and Blockchain. We firmly believe that our clients will receive enormous value with the added power and global scale that Synechron can provide,” said Chris Allison, Co-founder and Managing Director of Citihub Digital.