Wall Street Systems has made its second back-to-back acquisition this year with a deal to take over City Financials, the corporate treasury specialist used by over 50 of the largest companies in the world
Wallstreet says it will integrate City Financials' corporate treasury business into its existing portfolio of treasury assets, offering a bridge between Wallstreet Treasury, which caters to the needs of mid-tier corporations, and Wallstreet Suite, which is favoured by Global 200 corporations and central banks.
The City Financials eTC treasury workstation will be offered as installed software at the client's site or as software-as-a-service (SaaS).
The announcement follows last month's acquisition of electronic bank account management specialist Speranza.
Larry Ng, managing director, corporate development, Wall Street Systems comments: "The economic turmoil has clearly demonstrated the vital importance of treasury. Companies are demanding better access and control of their cash and liquidity. We are committed to helping our clients meet these new challenges for the long term by investing across all areas."
Financial terms were not disclosed.