The merger of ALGOFI and TEKNYS CONSULTING
ALGOFI and TEKNYS CONSULTING merged on 1 November 2017, driven by a shared ambition to create a major IT Consulting company specialised in the market finance, banking and insurance sector.
This relationship became reality through the merger of TEKNYS CONSULTING into ALGOFI (dissolution of TEKNYS, recovery of their assets by ALGOFI, incorporation of TEKNYS share-holders into ALGOFI's capital).
After this operation ALGOFI came to have a total staff of 200 and a turnover of M€ 21.5 by the end of 2017. Here are the key elements.
- A balanced executive management, Toussaint DEGBO as CEO, Meyer MARCIANO as Managing Director,
- Independent share-holding,
- Offices in Paris, London and Milan,
- Around thirty clients (Investment Banks, Asset Management Companies, Stock-Market trading Companies and Infrastructures, Public Institutions),
- Solid partnerships with major financial solution publishers,
- Expertise in 6 core activities: Information Systems (Software Engineering, Business Analysis, PMO, etc.), Consulting, Risk Management, Quantitative Analysis, Core Activity Operations, BI & BIG DATA.
This operation is based on comparable incomes and highly complementary strong core activities, allowing ALGOFI to set itself the objective of M€ 45 in turnover and 400 employees within the new two years, whilst also:
- Consolidating its position with key-account clients, notably through more fixed-price interventions,
- Broadening its service offer for financial institutions by adding to its service range, from consulting to change management and including a digital service offer,
- Expanding the size and geographical scope of its client-base,
- Innovating through new targeted and high value proposals,
- Encourage existing and future talent and consultants with more interesting international career opportunities.
For Toussaint DEGBO, ALGOFI's CEO
« The merger of our two companies - each sharing the same culture, vision and passion for their business - has created an exceptional group, a genuine leader in IT & Finance expertise. And I am very proud to celebrate this merger today. Personally speaking this is a wonderful occasion to work once more alongside such a great professional as Mayer MARCIANO. We have a similar background; we are both IT & Finance experts who have chosen to set up our own businesses and stand up for our individuality and strength to stand out from our competitors. This merger will allow is to expand our offer and consulting services for all of our clients in the context of the increasing number of new regulatory restrictions affecting the market. »,
and for Mayer MARCIANO, Managing Director of ALGOFI, founder and ex-CEO of TEKNYS CONSULTING
« By combining the expertise of ALGOFI and TEKNYS Consulting, their shared values, their vision and ambition, we are creating a new group perfectly armed to serve the major third party finance organisations with even greater effectiveness and sustainability.
The combined finance, IT and project management sector know-how of the two companies along with our position as an independent Pure Player will take us to the next level, providing us with a new dimension and ensuring that we will become one of the leaders in our market sector. »