SunGard acquires XRT treasury management products

SunGard acquires XRT treasury management products

SunGard has acquired the Globe$ and TWS treasury product lines from France-based treasury specialist XRT. Financial terms of the agreement were not disclosed.

XRT said last year that it would cease development of its high-end treasury product lines.

The products will now be marketed as part of SunGard's AvantGard business unit. The acquisition includes all current customer contracts, intellectual property, sales, marketing and development assets relating to the Globe$ and TWS product lines, as well as responsibility for customer support and maintenance of the packages.

Ken Dummitt, president of AvantGard at SunGard, says: "We offer a comprehensive approach, bringing together treasury, receivables and payments management for a single view of cash and liquidity management. Globe$ and TWS customers can benefit from our long-term vision and the strength of our global customer community."

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