Path to strong growth

According to a press statement that followed the acquisition, Double Effect will continue to operate as an independent company. But thanks to its direct connection to the Synechron brand and expertise, Double Effect aims to grow at a faster pace. Bas Heijnen and Pablo van den Bosch, founders of Double Effect, said: “Synechron’s impressive credentials and track history in the financial services domain made them the clear choice for us. The financial services industry is at a critical juncture and our association with Synechron will augur well in addressing the business imperatives of these companies. Being a part of the Synechron team will also strongly complement our existing service offerings and catapult us to our next phase of growth.”

Founded in Amsterdam

Double Effect is the second Amsterdam company to be acquired by a major North American business in recent times. In March 2013, ID&T, the largest promoter of dance music events in the world, was acquired by SFX Entertainment. The American company purchased 75% of ID&T stock, valuating the Amsterdam-based company at 100 million euros.

Hotspot for innovative start-ups

Amsterdam has been praised by various experts as a perfect location for international, innovative start-ups. For example, during a visit to the city in March 2012, Dom Sagolla, one of the co-founders of Twitter, praised Amsterdam for creating a great culture for app makers. He noted the excellent ecosystem for software development in Amsterdam, mentioning the weekly networking opportunities, great contacts with Silicon Valley, the lifestyle of cycling and the fearlessness of developers here.