Home / Insights / SCD Advisory acted as sell-side adviser to iGreenData on their sale to Synechron

SCD Advisory acted as sell-side adviser to iGreenData on their sale to Synechron

Posted On : 14th May 2024

SCD Advisory is pleased to announce that it has advised iGreenData, a Melbourne-based Digital Engineering Organization, on its sale to Synechron, a leading global digital transformation consulting firm.

This acquisition enables Synechron to enhance its technological capabilities, broaden its service offerings, and expand its coverage to the Australian market.

Synechron, a leading global digital transformation consulting firm focused on financial services and technology organizations, announced its acquisition of iGreenData, a modern, data-centric digital solutions company founded in 2018. iGreenData, headquartered in Melbourne with an additional office in India where Synechron has a significant presence, specializes in cloud-enabled data and digital engineering. The company serves a diverse array of blue-chip clients and has high domain expertise in the banking and financial services sectors, along with strengths in full-stack, DevOps, cloud, data engineering, automation, and blockchain. The acquisition of iGreenData was completed on May 13, 2024.

This acquisition enhances Synechron’s leadership in digital transformation by combining their agile, creative approach with iGreenData’s specialized skills in cloud technology and lean data engineering practices. The integration adds to Synechron’s capabilities in delivering customized solutions that achieve substantial business outcomes, while continuing to swiftly and effectively meet their clients’ evolving needs.

Moreover, the acquisition expands Synechron’s global reach. By leveraging Australia’s strategic location, Synechron is better positioned to provide continuous support across time zones in Asia, the Americas, and Europe.

Faisal Husain, Synechron Co-founder and CEO, commented,

“We’re thrilled to welcome iGreenData into the Synechron family. This acquisition will enable us to continue deepening our technological strength and expand our footprint to the Australian market. Together, we will leverage our combined expertise in digital transformation and innovation to deliver value-added solutions that meet the evolving needs of our clients.”

Max Sundaram, iGreenData Co-founder and CEO, said,

“We’re very excited to become part of the Synechron team. With their global reach and our shared commitment to excellence, we’re well positioned to provide the best-in-class transformative digital experiences.”

On the role of SCD Advisory, Max Sundaram commented:

This transaction with Synechron was complex with the multi-geographic considerations across APAC. We are extremely thankful to the SCD Advisory team for their guidance along this journey and the help provided to make this partnership happen.

Frank Rajakulendran (Co-Founder and Joint Managing Director of iGreenData) added:

The SCD Advisory team was very efficient to work with and highly process driven in this fast-paced transaction which allowed this deal to complete in a timely manner. Many thanks to the team, your invaluable advice was much appreciated!

Pierre Briand (Founder of SCD Advisory) concluded:

Big congratulations to iGreenData and Synechron for delivering this landmark cross-border transaction. The deal was complex in nature due to the involvement of multiple regions and timing constraints, however this partnership is highly synergistic for both parties. The iGreenData team built a great business with deep penetration into cloud engineering/digital transformation/AI within the banking sector. We wish great success to both parties moving ahead!

At SCD Advisory, we offer a range of services from deal preparation to transaction execution. Contact us at info@scdadvisory.com to find out more.

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Written by: Pierre Briand, Founder & Managing Partner

Pierre brings 25 years of expertise in advising entrepreneurs, with a deep background in management and financial advisory across corporate finance, private banking, and wealth management. His extensive experience includes numerous sell-side and buy-side deals, IPOs, mergers, integrations, and consulting projects for both small businesses and large global corporations. As an established and highly regarded advisor, Pierre is known for his savvy, trusted guidance.

Pierre’s career began in Australia before he moved to France, where he worked with prominent business figures like billionaire François Pinault on M&A deals within the Artemis group. He then founded BC&D, an M&A small-cap firm in Paris, where he managed corporate advisory services across Europe, covering both origination and execution. His work extended beyond transactions, advising entrepreneurs on wealth management strategies to optimise the transition from business ownership.

In Paris, he held advisory roles at the Belgium Family Office (DeGroof) and as a senior private banker and head of the HNW segment for France at JP Morgan. Returning to Australia in 2015, Pierre established the ANZ subsidiary of a UK-headquartered M&A firm, executing 9 M&A transactions across Australia. In 2019, he launched SCD Advisory, where he has since completed 35+ transactions, earning multiple global awards in M&A advisory from 2021 to 2024. Notably, he was named ‘Deal Maker of the Year’ by Finance Monthly in 2022 for his sale of Hypothesis to McKinsey & Co.

Pierre graduated from the Business of Troyes in France and has a postgraduate in Corporate Finance from the University of Caen. He is also a certified Financial Analyst and a Graduate of the Australian Institute of Company Directors (GAICD). Pierre further enhanced his credentials by completing the “Leading Professional Services Firms” program at Harvard Business School. His track record and accolades highlight his dedication to excellence and his exceptional skill in delivering successful outcomes for his clients.

Pierre is French, Australian citizen, Overseas Citizen of India. He is married and has two children. He is passionate about international travel, gastronomy, sailing and golf. As an experienced sailor, his motto in business and life in general is: “We cannot direct the wind, but we can trim the sails”

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