SunGard today announced that it has acquired California-based, Aceva Technologies, a provider of receivables management software solutions.
The acquisition of Aceva extends SunGard's AvantGard solution suite for Collaborative Financial Management into the On Demand, Software as a Service (SaaS), hosted solutions and business process outsourcing spaces. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.
Ken Dummitt, president of SunGard's AvantGard business unit, said, "The acquisition of Aceva marks another step forward in our long-term strategy. The addition to our development and services organizations will help us to accelerate innovation and expand our distribution channels and support of channel and alliance initiatives. Further, it will help us deliver enhanced services and capabilities to our customers based on a single platform for managing the entire credit operation."
Aceva will be marketed as AvantGard Aceva under the AvantGard Receivables brand. In October 2005, SunGard acquired GETPAID to extend the AvantGard suite of liquidity management solutions, offering treasury, receivables and payments solutions for improved management of cashflow, both inbound and outbound, helping companies achieve sustainable liquidity management. AvantGard GETPAID is also marketed under the AvantGard Receivables brand.