This acquisition extends Synechron’s reach across the country, establishing a presence in key hubs and unlocking new industries and clients.

SYDNEY and NEW YORK and LONDON and PUNE, India, June 26, 2024 /PRNewswire/ — Synechron, a global leader in digital transformation consulting for the financial and technology sectors, is proud to announce that it has executed a definitive agreement for the acquisition of Chamonix IT Management Consulting Pty Ltd and Exposé Data Pty Ltd. Both companies are headquartered in Adelaide, Australia, with additional operations in Melbourne and Brisbane and share a common goal of delivering digital transformation, artificial intelligence, and analytics expertise to clients across several key industries including government, healthcare, utilities, energy, and education. The definitive agreement with respect to the acquisition was signed on Tuesday, 25 June, 2024, and is subject to customary closing conditions, including approval by the Australian Foreign Investment Review Board (FIRB).

Chamonix IT, established in 2010, is the leading provider of digital transformation services to organizations in South Australia. With a skilled team of approximately 150 professionals, Chamonix IT has been pivotal in delivering cutting-edge solutions that address complex challenges and drive significant outcomes for enterprise-level and public sector clients. Chamonix IT’s founders established Exposé as a new company in 2016 to bring the same level of expertise, this time focused specifically on data science and engineering, data modelling and visualization, and artificial intelligence. Among the fastest-growing IT organizations in Australia, Exposé currently has a team of approximately 50 people across the country.

The two organizations will join Synechron’s core digital transformation consulting business alongside recently acquired iGreenData, which expanded Synechron’s data and blockchain expertise in the financial services sector. With these additions, Synechron has effectively doubled its presence in the country, achieving coverage across major sectors. This strategic positioning allows the company to capitalize on the growing information technology (IT) investment in Australia encompassing SaaS, IT services, and analytics, while simultaneously enhancing its ability to offer support and solutions across Asia, the Americas, and Europe.

Faisal Husain, Synechron Co-founder and CEO, commented, “We look forward to welcoming Chamonix IT and Exposé into the Synechron family when the acquisition is completed. They will enrich our presence in Australia, bringing fresh expertise and capabilities that complement our ongoing commitment in the region. This move will enhance our service offerings and drive significant value, strengthening our strategy of continuous innovation and client-focused solutions.”

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Scott Grigg, CEO of Chamonix IT, said, “Joining forces with Synechron is a significant milestone for us. Our shared dedication to excellence and innovation means we’re exceptionally positioned to offer transformative digital solutions that are second to none.”

Kelly Drewett, CEO of Exposé, added, “Becoming part of the Synechron family represents a massive opportunity. It accelerates our ability to innovate and empowers our employees to take on even more complex challenges on behalf of our clients.”

Technology Holdings acted as the financial advisor to Chamonix IT and Exposé on the transaction.

About Synechron:

At Synechron, we believe in the power of digital to transform businesses for the better. Our global consulting firm combines creativity and innovative technology to deliver industry-leading digital solutions. Synechron’s progressive technologies and optimization strategies span end-to-end Artificial Intelligence, Consulting, Digital, Cloud & DevOps, Data, and Software Engineering, servicing an array of noteworthy financial services and technology firms. Through research and development initiatives in our FinLabs we develop solutions for modernization, from Artificial Intelligence and Blockchain to Data Science models, Digital Underwriting, mobile-first applications and more. Over the last 20+ years, our company has been honored with multiple employer awards, recognizing our commitment to our talented teams. With top clients to boast about, Synechron has a global workforce of 14,000+, and has 55 offices in 20 countries within key global markets. For more information on the company, please visit our website or LinkedIn community.

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About Chamonix IT:

Chamonix IT empowers businesses to excel through transformative IT services. Serving both enterprise and government organizations, Chamonix IT delivers tailored solutions that ensure long-term success. Chamonix IT’s expertise spans Advisory, Cloud & Infrastructure, Application Innovation, Security, and Managed Services, enabling businesses to remain competitive and innovative in an ever-evolving landscape. By embracing an adaptable and flexible approach, Chamonix IT helps organizations navigate the complexities of digital transformation to propel their business forward.

About Exposé:

Exposé is a leading data analytics and AI consulting firm delivering data-driven insights and business-focused outcomes to private and public sector clients across Australia. Exposé’s approach is designed to give its clients the quickest and most cost-effective path to tackle data and AI opportunities through best practice. Clients benefit from Exposé’s significant experience, research and development, and innovation, which is at the core of what we do and the values we uphold. Founded in 2016, Exposé is now the largest data analytics and AI business in South Australia and one of only a few female-led technology businesses in the region.

For more information please contact:

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Rashmi Joshi,
Synechron
+91-9560694654
[email protected] 
[email protected]

OR

 Zoe Forbes-Pyfrom
(+44) 7718 599666
[email protected]

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LONDON, June 26, 2024 /PRNewswire/ — Released today, the IGU’s 15^th annual World LNG Report finds that global LNG trade grew by 2.1% in 2023, surpassing 401 million tonnes (MT). This global market now connects 20 exporting with 51 importing markets, while supply is currently the primary growth- limiting factor. After two years of severe turbulence, the LNG market has a newfound but fragile equilibrium, given lack of spare supply in the near-term.

LNG has become a critical component of the global energy mix, with its role as a flexible, highly efficient, and reliable resource continuing to grow, and as such, decarbonising the LNG value chain is a priority for many stakeholders in the industry. Several proposed projects are undertaking innovative emissions-reducing measures to meet this need by integrating renewable electricity, carbon capture and storage, partnering to develop e-methane, and grow bio-LNG, or liquefied biomethane, which is produced from capturing and upgrading biogas that would have otherwise been emitted from landfills, agricultural waste, or other feedstock.

LNG receiving capacity growth has been shaping market development over the past 24 months, as it reached an impressive 1,029.9 MTPA at the end of February 2024, adding almost 70 MTPA in 2023 and making it the highest year of new additions since 2010. Europe saw the greatest addition of 30 MTPA, followed by Asia’s 26.9 MTPA and Asia Pacific’s 13 MTPA. The Philippines and Vietnam joined the club of LNG importers in 2023 for the first time.

Supply remained constrained, with just 0.8% YOY growth from Indonesia’s 3.8 MTPA addition at Tangguh LNG. However, global liquefaction capacity is likely to grow to over 700 MTPA by 2030, driven by new FIDs and the start-up of projects currently under construction to support growing demand, particularly in the growing Asian markets, where coal to gas switching is important decarbonization and air quality improvement strategy.

LNG exports were dominated by the US, which became the largest producer and exporter (84.53 MT in 2023 vs 75.63 MT in 2022), followed by Australia (79.56 MT), Qatar (78.22 MT), and Russia (31.36). 

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2023 saw spot LNG prices declining to levels palatable for recovery of import growth in Asia, as Platts JKM averaged $13.86/mmBtu during the year, while average annual price volatility has significantly reduced from 2022 levels but remains above pre-crisis. China came back as the largest LNG importer at 71.19 MT, Japan and Korea remained second and third despite annual declines, and India came back to the fourth position, with more demand responding to the lower spot price. Europe also cemented its role as an LNG importing heavyweight, maintaining the second-largest importing region spot at 121.29 MT in 2023. With LNG supplying almost half of Europe’s gas, the competition between Asian and European markets remains as key market dynamic.

Global LNG market continues to rapidly evolve as it responds to growing gas demand in emerging markets, increasing number and diversification of market participants, and the acceleration of technology development and innovation. LNG industry is no longer a game only for big markets or big companies, with portfolio players playing an increasingly more important role. In 2023, about 180 companies were involved in LNG deliveries under term contracts, while about 35% of the transactions were spot-priced.

However, several major uncertainties confront the supply-constrained market, contributing the fragility of its current equilibrium. Key sources of this uncertainty include: the Biden Administration non-FTA LNG project approvals pause, which could delay over 70 MTPA of new capacity; sanctions on Russian LNG, which impact almost 20 MTPA of expected capacity; the possibility that Ukraine may not extend the Russian gas transit deal at the end of 2024; shipyard bottlenecks; the ongoing security risk in the Middle East; as well as some declining gas field supply. Over 120 MTPA of currently operational liquefaction capacity is over 20 years old, and some of these facilities are being mothballed due to insufficient upstream gas production, which calls for attention to the supply side risk.

IGU President, Li Yalan stressed:

The LNG industry has demonstrated incredible agility and innovation through some of the toughest tests over the recent years, and this is an industry that continues to play a pivotal role to navigate through an energy crisis that has not yet been fully resolved and an energy transition that has been challenged.

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As the world moves toward a low emissions future, nations are seeking ways to achieve their climate commitments while keeping energy affordable, available, and secure. LNG is a tool that will be critical to providing greater resiliency for rapidly changing energy systems around the world, and it will have an essential role mitigating the inherent risk of uncertainty through that process.

Download Full Report Here

About the Report

Leveraging the IGU’s vast global gas value chain network across 80 countries, the report provides the most authoritative public data and analysis on LNG trade, price, liquefaction, regasification, shipping, bunkering, as well as key developments impacting the global LNG market. 

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ISTANBUL, June 26, 2024 /PRNewswire/ — VeriPark and FICO have launched a partnership to revolutionize the financial services sector through AI-driven decision making and digital transformation.

The collaboration between VeriPark, a global provider of innovative digital solutions, and FICO, a renowned analytics software company, will enhance decision-making and promote financial inclusion across Turkey, the Middle East, Africa, Asia and CIS regions.

Combining FICO’s decision automation, optimization and omnichannel communications capabilities with VeriPark’s customer engagement, omni-channel delivery, branch automation and loan origination solutions, the partnership aims to improve customer experience and accelerate digital transformation.

“We are excited to bring FICO’s cutting-edge technology to our region. This collaboration will enhance customer experiences and operational efficiency across the financial services sector. Integrating FICO’s technology with our solutions represents a significant leap forward, ensuring we stay ahead in a rapidly changing environment. We look forward to showcasing our joint success stories soon,” said Ozkan Erener, CEO of VeriPark.

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“The combination of FICO and VeriPark’s strengths brings a unique blend of innovation to the market. Our goal is to help build a better society by bringing more people into the banking system, and our partnership with VeriPark is a critical step towards achieving that. FICO has been working with AI since 1992, and we are eager to introduce this long-standing expertise to businesses in this region through our collaboration with VeriPark.” said Alexandre Graff, Vice President of Global Partners & Alliances, FICO.

About VeriPark (https://www.veripark.com)
VeriPark is a global solutions provider enabling financial institutions to become digital leaders with its Intelligent Customer Experience suite. With offices located in United Kingdom, Europe, the United States & Canada, Asia, Africa and the Middle East, VeriPark is helping businesses to enhance their customer acquisition, retention and cross-sell capabilities by providing proven, secure and scalable Customer Relationship Management, Omni-Channel Delivery, Branch Automation, and Loan Origination solutions.

About FICO (https://www.fico.com/)
FICO powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries.

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