Capco, the global provider of integrated transformation services and solutions for the financial services industry, today announced that the Capco management team and Symphony Technology Group (STG) are to purchase all outstanding shares in Capco.
âThis transaction is evidence of the managementâs belief in the growth opportunities for Capco,â said Rob Heyvaert, Chairman and CEO of Capco. âSTG are similarly committed to growing this business. Their investment and support will strengthen our financial resources. We will also leverage their software development and global delivery capabilities, which in conjunction with Capco's current capabilities, enable us to accelerate the growth of our managed services businesses and to expand our technology transformation capabilities.â
Headquartered in Palo Alto, California, STG is a strategic holding company with $1.2 billion in revenues and more than 7,000 employees worldwide across its companies. It focuses its investments in growing businesses in the software and services markets. STGâs portfolio companies leverage the Groupâs financial and operational resources to achieve revenue growth through innovation.
For STG, the deal represents a significant investment in areas identified as key growth opportunities: the financial services industry, the market for industry specific application integration services, and business process outsourcing (BPO)/managed services.
âIndustry expertise and a global consulting capability are key to building a successful tier-one solutions provider to the financial services industry,â said Dr. Romesh Wadhwani, Chairman, Symphony Technology Group. âCapco has those capabilities as well as a strong portfolio of managed services solutions, a significant opportunity to expand the technology services business and a talented team. The combination makes for an exciting growth opportunity in one of largest industry segments and a valuable addition to our portfolio.â