Fundtech’s Swiss subsidiary BBP has taken over Synergy Financial Systems in a deal valued at GBP 3.6 million (USD 6.2 million converted on 10/09/08). Synergy Financial Systems is a Swift service bureau based in the U.K.
Under the acquisition deal, BBP will initially pay GBP 2.5 million (USD 4.3 million) in cash and the remaining GBP 1.1 million (USD 1.9 million) in cash over a period of three years based on financial performance. According to Fundtech, the agreement will make it the world's largest Swift service bureau operator based on transaction volume with a clientele of more than 200 financial firms.