Indian IT behemoth Infosys may acquire UK-based SmartStream Technologies, a solutions provider for financial services sector, for over £100 mn. Headquartered in London, SmartStream has direct operations across Europe, New York, Sydney, Beijing, Singapore and Mumbai.
SmartStream has more than 70 of the world’s top 100 banks as its clients and has 38% share of the transaction lifecycle management solutions market. The acquisition of SmartStream will be Infosys’ second major one, after it acquired an Australian IT firm for $22.9 mn in 2003.
Buyout fund TA Associates holds 60% stake in SmartStream. TA acquired the company around 18 months back after the exit of 3i, which supported a management buyout in 2000.
Read more in The Economic Times article.
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