SmartStream acquires BPM and messaging firm Connextive
07 July 2003 | 3182 views | 0
SmartStream Technologies has acquired US firm Connextive, a provider of financial messaging and Java-based business process management (BPM) software, for an undisclosed sum.
SmartStream says Connextive's products will be integrated with its STP Control Architecture - designed to consolidate disparate applications and provide for end-to-end, real-time control of transactions, risk and operations.
The company's technical development centre in Mumbai, India and product and design consultancy in New Jersey will be extended and consolidated with SmartStream's operations.
The deal follows Smartstream's acquisition of US corporate actions specialist Effective Solutions Inc (ESI) in March this year. ESI's products - which cover end-to-end corporate actions processing - will form a core component of SmartStream's TLM platform.
ESI also delivers asset servicing software for asset administration including pricing and data management.
SmartStream says both acquisitions were made from its cash reserves.