Sterci to take 25% equity stake in Simplex

Swiss-based STP vendor Sterci is to acquire a 25% equity stake in back office software house and Swift Service Bureau operator Simplex Consulting.

Between them, the two entities boast an installed base of over 230 customers in 16 countries, in excess of 50 bureau customers across five countries in Europe, operations in both London and Geneva, and strategic outsourcing agreements with three of the world's largest transaction banks.

Philip Walsh, Simplex CEO says the two companies had been exploring opportunities for close collaboration for some time. "Our customers have been particularly helpful in drawing our two companies together by urging us to address the much broader market opportunity that our combined solution provides."

By way of example, he points to the recent opening of a Singapore office by Sterci as a vehicle for expansion beyond Europe. "We will now look to lay the foundations for global expansion," he says.

Simon Kalfon, CEO of Sterci says the formal integration between the two will enable both companies to address larger market opportunities as a unified entity.

"Sterci's market leading technology combined with Simplex's ability to implement and manage large and complex outsourcing projects means that both companies can now capitalise on their strengths, with all our customers being the ultimate beneficiaries."

Financial terms of the transaction were not disclosed.

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