French IT services group Atos has
agreed to buy US Information Technology group Syntel in a move to significantly
expand its presence in North America. This transaction is a major step in the strategy
of Atos to reach a global scale.
Atos, which provides IT services to
sectors ranging from aerospace to retail, said the deal to buy Syntel will
strengthen its activities in banking, finance, and insurance and allow it to
provide complete IT solutions to its U.S. customers.
The deal will significantly enhance
the business & platform solutions division's growth and profitability
profile through an extended digital services offering, cutting-edge India-based
delivery platforms, as well as revenue and cost synergies.
The
acquisition of Syntel, a 38-year-old company with 23,000 employees, comes after
last year's unsuccessful attempt by Atos to buy Gemalto. Syntel provides technology
and IT services utilizing a network of software development centres in India.
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