M&A in Financial Services - Facilitating BPO deals & supporting retained business.
Our client is a leading nationwide Financial Technology Services to enterprise customers utilising the latest Microsoft platforms.
The Client & Challenge
Our client is a leading nationwide Financial Technology Services business providing managed IT services to enterprise customers utilising the latest Microsoft platforms. Their challenge was to enable their new Fintech customer to divest their current (approaching end of life) IT infrastructure as part of an acquisition deal which saw the legacy business reshaped with 50% to Business Process Outsourcing (BPO) and 50% remaining as the Retained Business.
The Fintech customers’ technology estate had grown organically and developed into a complex network of services. The complexity of their requirements was also added to by a number of factors;
- Compliance was key as they are regulated by the FSA,
- As a software development house they had strict security policies and processes to adhere to,
- High-performance computing was required to support pricing mechanisms based on
sophisticated actuarial modeling.
As per standard M&A IT practice, focus was placed both on "Day One" operations whilst also noting the transformations required for "Day Two".
To deliver Day One objectives, comprehensive due-diligence and planning was undertaken to ensure that we captured the complex services and inter -dependencies which could present issues and risks. Both public and private cloud services were extensively utilised to seamlessly deliver Day One targets.
The result was a fully operational business post cut-over for both BPO, and the Retained Business which can now focus on business growth rather than being bogged down in IT operations. Also, given the 'elastic' nature of their new cloud infrastructure, they now have the bandwidth and confidence to grow within the market sector without the traditional constraints of IT.
Managing one of the companies most diverse programmes, Beyond successfully delivered multiple challenging projects spanning across both critical business and IT systems. Beyond not only successfully delivered project deliverables but always ensured programme benefits where realised - they did an amazing job and we would welcome their support on any other programme.
Andrew Holliman - Programme Manager
Key Business Benefits
● IT workstream of the M&AI divestment activity delivered as planned
● Removal of IT services from the Retained Business
● Greater mobility due to flexible IT
● Reduction of FTE IT staff (TUPE)
● Allowed for the total removal of all data centres
● Removal of redundant services and applications.
Project Scope (What we delivered)
● Project Management
● Focus on Day One and Day Two Objectives
● Discovery of applications, services and associated inter-dependency
● Discovery, design and deliver for infrastructure and end-user compute
● Migrate existing IT server infrastructure into a Public Cloud
● Provision of a suite of Microsoft Cloud Services - Office 365, Azure AD and lntune.
● Provision of Windows 10 Enterprise and Cloud Services
● Application discovery, analysis and packaging
● Training and handover to BPO IT staff.