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December 14, 2020

US IT and consulting firm Synechron buys Australian paytech Attra

US-based digital transformation consulting firm Synechron has acquired Australian banking and payments technology solutions provider Attra.

Financial details of the transaction were not divulged.

Under the agreement, Attra will become a Synechron company, although it will retain its brand name.

Attra is a pure play payments solutions provider with presence in Australia, New Zealand, North America, Europe, the Middle East, and the Asia-Pacific (APAC) region.

It also has development centres in Australia, UAE and India.

As a result of this acquisition, its team of 2,000 banking and payments technology experts will become part of Synechron.

Moreover, Synechron’s 13 FinLabs along with Attra Labs will co-develop innovative payment solutions, tools, and processes for clients.

The collaboration will help both the firms expand their geographic reach.

Founded in 1995, Attra provides consulting, application development and maintenance, and engineering services to clients globally, across the payments value chain.

Its cards and payments services add to the digital, consulting, and technology services that Synechron offers to its clients.

Attra’s end-to-end solutions cover FI and payment companies, third-party payment processors and payment gateways, retailers, and next-generation payments.

By acquiring Attra, Synechron will add Attra’s core technology on payment and banking platforms, intelligent automation, IT infrastructure and cloud, UI/UX, mobility and channels, and information management.

Attra CEO Chris Buuren said: “The payments industry is experiencing a full-fledged digital transformation that is being fuelled by exciting new technology advancements and regulatory and competitive changes.

“We are very excited to join with the passionate team at Synechron as we continue our mission to be strategic partners with organisations in the financial services industry and empower them with a full suite of digitally-led technology services and solutions in payments.”

For Synechron, Attra is the second acquisition in the last six weeks.

In October, Synechron acquired Citihub Digital, a technology consulting firm for the financial services industry.

Synechron co-founder and CEO Faisal Husain said: “We provide our clients with a comprehensive set of digital transformation capabilities and the acquisition of Attra enables us to strengthen our service offerings.

“Moving forward, our combined workforce will top 10,000 employees and annual revenue of over $650m.

“The enhanced competencies that Attra brings will allow us to further advance our clients’ banking & digital payment technology services while ensuring regulatory compliance.

“Attra’s end-to-end payments technology services will blend nicely with our digital innovation that is at the very core of Synechron’s DNA.”

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