Capco buys Swiss digital financial services consultancy andrion

10 December 2020 3 min. read

Capco has closed its third deal this year, with the acquisition of Switzerland-based digital financial services consultancy andrion.

The move adds a team of around 25 consultants and staff to Capco’s team in Zurich, and deepens its consulting, digital transformation and technology capabilities in Switzerland the broader DACH region.

Lance Levy, the chef executive officer of Capco said: “This acquisition further strengthens our offerings to our financial services clients as we help them redefine their business models and customer offerings. It also represents yet another step in our pursuit of targeted acquisitions.”

Capco buys Swiss digital financial services consultancy andrion

Previous acquisitions Capco closed this year were that of Neos in the US and Creative Construction in Germany. And last year the private equity backed independent consulting firm beefed up its US presence with the bolt-on of Atom Solutions

Capco has been active on the ground in Zurich for years, and last year, the consultancy launched an Insurance practice in the country to complement its work in banking, capital markets and financial technology firms. 

Welcoming the latest expansion, Farzine Fazel, Capco’s Managing Partner for among others Switzerland, described the andrion team as “a group of talented, technology focused professionals who share the desire to assist our financial services clients to accelerate their digital transformation.” 

Founded in 2009, andrion specialises in digital and technology delivery services to companies in the financial services sector, with a focus on digitalisation, artificial intelligence, web and cloud solutions, regulatory technology, open banking and service harmonisation. The Baden-based firm serves a roster of clients including Credit Suisse, Equatex, Fidex, PostFinance, Swisscom, UBS and Valyo. 

The two consultancies have in recent years worked together on a number of occasions in Switzerland, and on the back of the “successful collaboration”, Capco approached andrion to take the partnership to the next level, said Andrea Hoffmann, a Partner at Capco Switzerland.

As part of the integration, andrion Managing Partners Aniello Bove, Martin Zimmermann and Roberto Zimmermann, as well as all staff, will join Capco. 

In related M&A activity in Switzerland’s consulting market, Atos in October acquired SEC Consult (a 250-strong cybersecurity consultancy which also has an office in Switzerland), while in September, French-origin CYLAD Consulting purchased Seestatt Consulting & Interim Management, a Swiss provider of experienced interim managers and consultants.