LTI to Acquire NIELSEN+PARTNER, Germany

Larsen & Toubro Infotech Ltd, a global technology consulting and digital solutions company, has signed a definitive agreement to acquire NIELSEN+PARTNER (N+P), an independent Temenos WealthSuite specialist, headquartered in Hamburg, Germany.

Interestingly, N+P is already a leading partner of Temenos in Europe and APAC. The company is well-recognized for its market-leading capabilities in Temenos WealthSuite, including Triple’ A Plus, Data Source and Channels. N+P also provides IT Consulting, digital and software engineering services to major enterprises with an active presence in major Banking and Wealth Management hubs like Switzerland, Luxembourg, and Singapore.

This acquisition is quite in line with Syncordis acquisition that LTI had announced in 2017. It is pertinent to mention here that Syncordis, on its parts, is the leading Temenos T24 Core Banking Platform specialist with widespread presence in Europe, whereas N+P has built comprehensive expertise in the front office of Temenos WealthSuite. Together with Syncordis, N+P strengthens LTI’s capabilities as a global expert of Temenos suite of products and enriches company’s offerings to Banking clients. Subsequent to the integration, N+P’s Temenos business is proposed to be consolidated under the brand of Syncordis, while software engineering business will operate and expand as part of LTI Germany.

Sanjay Jalona, Chief Executive Officer & Managing Director, LTI, said that Temenos is the world leader in banking software. Since the Syncordis acquisition, this has been a fast-growing practice for the company, enabling resilient relationships and rich, cross-selling opportunities. The acquisition of N+P will help the company further establish LTI as a formidable player in the fast-growing market for Temenos and help its clients navigate their digital transformation journey, he said while welcoming the employees and clients of N+P to LTI family.

N+P chief executive officer (CEO) Manuel Brunckhorst said that joining forces with strategic and complementary partners like LTI and Syncordis is the next logical step to accelerate its growth, enhance its capabilities and extend its services, both for Temenos, as well as software engineering services. They are very excited about the future and continuing their journey with their existing and new clients, employees and partners.

Guillaume Desjonqueres, CEO, Syncordis said that Syncordis has been growing at a faster pace since its acquisition by LTI. With LTI acquiring N+P, they are entering into a new phase, expanding both its Temenos offerings and its footprint outside of Europe. In line with its strategic vision, Syncordis and N+P together with LTI will provide complete and innovative services to Temenos clients in the Banking and Wealth Management space, globally, he said.

This is the fourth acquisition by LTI since the company got listed in 2016. In January 2019, the company acquired Ruletronics, a boutique Pega Consulting company.