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Wilco International buyes TCA Synergo

Our Bureau

HYDERABAD, April 9

WILCO International, a wholly-owned subsidiary of ADP Inc having a development centre in Hyderabad, has signed an agreement with the Terence Chapman Group Plc for the acquisition of the business and products of TCA Synergo.

Subject to shareholder approval, the agreement includes the assets and business of TCA Synergo, including the TAROT2000 e-broking and private client investment management system.

This acquisition is part of Wilco's strategy to extend its product reach in the global retail securities markets and follows the acquisition of the Australian retail solution, SUMMIT, announced in February 2001.

TAROT2000 is a leading solution for retail trade processing in the UK, handling a significant number of trades executed in the market.

Some of the UK's successful brokerage firms use the TAROT2000 system.

The acquisition of TCA Synergo includes over 100 staff currently working in TCA Synergo London office.

The TAROT2000 suite is a real-time integrated retail solution for private client, stockbroking and fund management operations.

It builds in a number of integrated functional modules and tools which employ common client/server architecture.

The functionality supports trading in a broad range of international instruments including equities, fixed income, unit trusts, derivatives and is scalable for all sizes of operation.

The TAROT suite includes middleware components to enable rapid and easy integration as well as a CREST interface module for automating the matching and settlement of securities.

Commenting on the acquisition, Mr Steve Bloomer, CEO of Wilco International, said: ``This is the latest development in our strategy for the international retail markets. It also represents another contribution by Wilco that will further extend the functi onal coverage of ADP's strategic platform, the Global Processing Solution (GPS).''

The Terence Chapman Group is divesting the TCA Synergo business to enable TCA Consulting to focus on its strategy to become a leading provider of IT-enabled services to the financial sector.