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Synergy sets up UK subsidiary

Synergy sets up UK subsidiary in partnership with Cresta Group

Synergy International Ltd has joined with UK testing company Cresta Group Ltd (Cresta) to establish a joint venture company in the UK. Synergy has a two-thirds stake in the company, which will be called Synergy New Zealand (UK) Ltd. Cresta owns the remaining third.

Synergy’s Chief Executive David Irving said the joint venture reduces the risks for Synergy in expanding its market presence in the UK, by leveraging off the established sales and marketing arm of Cresta and also providing an office base for the new company.

“The aim is to develop joint business where Synergy will carry out remote software development work in New Zealand. Our relationship with Cresta over the past two years has already resulted in two significant clients in the UK.

“The joint venture strengthens Synergy’s position as one of the key leaders of outsourcing to New Zealand.

“Cresta’s strong client base matches the areas we want to target. With Cresta at the leading edge of systems and software testing, their client base is very active in software development projects – which is where we want to be.”

Mr Irving said that Synergy’s UK business to date was very profitable and there had been an easy acceptance of a New Zealand IT business due to the large number of hard-working Kiwis in the UK industry who were held in high regard.

“Our UK clients and prospects think if we have a whole team of developers as good as the ones on OE who they’ve seen, then we can certainly deliver on quality.”

Cresta is a professional services company that specialises in testing, niche systems development and has offices in London, New York, Dublin and Stockholm. The company is extremely strong in the financial sector with most of the major investment banks on their client list.

Chief Executive of Cresta, David Cotterell, said the joint venture was very rewarding for all those from Synergy and Cresta who had put so much effort into getting operations off the ground.

“The opportunities for mutual growth have already proved themselves to be self-evident, with plenty of joint working opportunities already having been established,” he said.

There is a strong fit between Cresta’s testing consultancy professionals and Synergy’s leading edge development teams and project managers, which makes establishment of this new entity a sensible and exciting prospect.”

The chief executive of the new company, Synergy New Zealand (UK) Ltd, is Darren McTigue, a Synergy appointment who has been spearheading the UK operation for the past 18 months. Chairman of the company is Ian Clarke, Synergy’s chief financial officer.

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