Enterprise application lifecycle data manager and SAP data migration expert Syniti has been bought from its private equity owner by Paris-based Capgemini.
Capgemini, a global IT services business, with 340,000 staff in more than 50 countries, stated the acquisition “will augment the Group’s data-led solutions for clients across the globe, in particular large scale SAP transformations, such as the move to SAP S/4HANA.” Capgemini reported global revenues of €22.5 billion ($25.01 billion) in 2023 and is a vastly larger business than Syniti.
As we wrote in March “Syniti is a structured data lifecycle management supplier – with a focus on enterprise applications such as SAP and Salesforce – and not a file lifecycle management supplier.” It manages complex data quality, data migration and data governance initiatives for some of the world’s largest companies. The company’s Syniti Knowledge Platform is a cloud-based management platform and a SAP Endorsed App, sold as a SAP Solution Extension called SAP Advanced Data Migration & Management, by Syniti for 10 years or so.
The combination of generative AI and SAP expertise has made Syniti an attractive buy to Capgemini.
Aiman Ezzat, Capgemini CEO, said: “A strong data foundation is key to enable relevant, trusted and quality insights. It’s a top priority for clients as they look to unlock further value from their enterprise data thanks to generative AI.”
“Syniti and Capgemini share the philosophy that digital transformation will always require data transformation to drive critical business benefits.Syniti is a leader in its field and a trusted global partner for major SAP data migrations. Its global team will reinforce Capgemini’s data-driven digital core business transformation services.”
Kevin Campbell, Syniti’s CEO, said: “Capgemini’s deep industry expertise and leadership in data & AI services highly complement Syniti’s data first approach in the market, to ensure that more organizations bring data to the forefront of their business and digital transformation projects.”
Bridge Growth Partners CEO Alok Singh said: “We are incredibly proud of the growth and development Syniti achieved. With the active support of our full team, including our highly experienced advisors, Syniti’s leadership team and employees transformed the company into a true market leader in data management that we believe will be an excellent strategic fit with Capgemini.”
Syniti, formerly known as BackOfficeAssociates, was started up in 1996, and raised $30 million from Goldman Sachs in a venture round in 2008. It was bought by private equity house Bridge Growth Partners in 2017 for an undisclosed amount.
Once bought by Bridge Growth Partners it stared expanding by acquisition to broaden its portfolio, buying HiT Software in 2010, and then Entota (2013), CompriseIT and Quadrate (2016), BackOffice Associates (2019), DataStewardshipPlatform (2019), Data Migration Resources, 360Science, Data Insiders and Sledgehammer all in 2021. Now it, with its more than 1,200 staff, has been bought again, and once more for an undisclosed amount.
The transaction is expected to close in the coming months, subject to regulatory approvals and other customary closing conditions.
