Lebanon Businessnews News

Berytech acquires stake in BSynchro
Partnership aims to invest in new products to upgrade the business of insurance companies
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Business and Information Technology consulting firm, BSynchro, announced that it has signed a strategic partnership with Berytech Fund. BSynchro said that the partnership is intended to help it expand its products and services to the insurance sector.

Berytech has acquired (in August) an approximate 35 percent stake in BSynchro, thus becoming the second main shareholder of the company. BSynchro’s main shareholder remains Michel Chammas. Other shareholders include Grace Manasseh, Rania Aouad, Joe Wakim, and Noel Aoun.

Michel Chammas, BSynchro’s CEO, said that the partnership with Berytech will help the firm invest in new products to upgrade the way Insurance companies do business.

“BSynchro will continue to develop insurance systems, further enabling companies to decrease costs, manage rates more effectively while generating leads and keeping their customers satisfied,” he said.

Chammas said that BSynchro is preparing significant projects, including a plan to open a subsidiary in the UAE.
BSynchro (Business Synchronization) is an Information Technology Service Firm founded in 2005. It offers consultancy and software solutions to businesses, with an emphasis on the insurance industry.

Berytech is a venture fund which invests in newly-established Lebanese ICT companies in exchange for equity ownership. The Fund already has over $6 million under management.

Date Posted: Oct 31, 2011
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