SunGard eProcess Intelligence has acquired joint intellectual property rights to CheckFree's Recon Plus for Windows source code, which it currently distributes and markets as intelliMatch.
The move by SunGard to acquire the rights to the product source code comes as CheckFree establishes its own overseas operation to direct market its enterprise reconciliation and exception management suite, CheckFree Recon-Plus Frontier. The US vendor recently established a base in London from which to punt its software direct to European firms.
The shift in strategy ends a seven-year distribution and marketing relationship between the two companies. Between them, Recon Plus and intelliMatch support more than 600 customers worldwide.
Matt Mandalinci, president of SunGard eProcess Intelligence, says the purchase of the source code will enable the firm to independently evolve the product to meet customer needs.
"We have customers in more than 65 countries who can be assured that the future of intelliMatch will be very positive for their business and partnership with SunGard," he says.