23 May 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

ION buys Financial Software Systems

18 January 2013  |  12038 views  |  0 strategy

Fintech vendor ION Group has acquired Financial Software Systems, a US provider of treasury management, capital market and wealth management technology. Financial terms of the deal were not disclosed.

Founded in 1992, Financial Software Systems serves banks, broker-dealers and fund managers around the world. The company is headquartered in Horsham, Pennsylvania, and has offices in London, San Francisco, Mexico City, Singapore, Hong Kong and Hyderabad.

The firm's founders, Gerald Thurston and Vincent Small, will stay on to help integrate Financial Software Systems with the ION Group, says a statement.

Adds Thurston: "ION Group provides a unique opportunity to join a larger organization with significant technology and domain expertise. We believe the combination with ION Group will significantly enhance Financial Software Systems' ability to serve our clients worldwide."

The deal comes just a week after ION subsidiary Wall Street Systems acquired IT2, adding to an already comprehensive treasury management systems portfolio.

In a Finextra blog post on the implications of that deal, Aite analyst Enrico Camerinelli flagged up several concerns about ION's conservative corporate culture and its effects for acquired firms.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Ion Trading agrees WallStreet acquisition

Ion Trading agrees WallStreet acquisition

21 April 2011  |  14721 views  |  0 comments
Wall Street Systems acquires City Financials

Wall Street Systems acquires City Financials

02 June 2010  |  9422 views  |  0 comments
Patsystems share price soars on ION Trading rumours

Patsystems share price soars on ION Trading rumours

28 July 2008  |  9970 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comvisit www.niceactimize.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Time for data-driven banking to come of ageTime for data-driven banking to come of ag...
8722 views comments | 28 tweets | 35 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
8687 views comments | 27 tweets | 27 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
8437 views comments | 22 tweets | 31 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8430 views comments | 21 tweets | 24 linkedin
DrnkPay app blocks credit cards if you've had too much to drinkDrnkPay app blocks credit cards if you've...
7456 views comments | 14 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job