Addstones sold to GFI Informatique

IT consultancy specialising in market finance builds on its expertise within the GFI Informatique group

GFI Informatique announced that it has acquired 100% of the capital and voting rights of Addstones Consulting. With a workforce of 136, Addstones Consulting provides comprehensive and unit-based consulting and technical assistance services exclusively for the largest French and international banks. Its revenues, exclusively realised in corporate and investment banking, asset management and investor services, are expected to be around €13 million in 2013. Revenues are highly visible, thanks to the high proportion of GTA. The company shows a fairly good profitability.

This transaction will enable the Group to increase its visibility in the promising corporate and investment banking sector. By combining Addstones and Vanilla, the group will have a workforce of almost 250 people to serve customers in the CIB segment. With the support of all Gfi Informatique Group resources, the two combined firms will be able to respond to the growing demand for centralisation, industrialisation and innovation in a fast-changing market segment.

GFI Informatique is strengthening its global leadership in consulting and services designed for banks and insurance companies, where it has revenues of over €200 million.