Reval, the premier provider of a single-version Software-as-a-Service (SaaS) solution for corporate financial risk management, announced today that it is has acquired ecofinance, the leading treasury management system provider in Central Europe.
The acquisition strengthens Reval's commitment to developing quality solutions for the global community of corporate treasurers.
"Reval has acquired a very talented team of development and treasury experts that has focused on engineering a robust cash and treasury management system and on providing a highly responsive customer support system to over 100 clients," says Reval CEO and Co-founder Jiro Okochi. "As we continue to work with clients to evaluate their cash, treasury, and risk needs, these qualities will prove ecofinance a perfect match for Reval. We will take our time to evaluate and integrate the best functionality to deliver the single, full solution that the industry wants."
Established over 25 years ago, ecofinance has built strong development partnerships with clients and regional universities to deliver quality solutions. Its software is currently installed in listed companies and is used in treasury centers on four continents. Serving corporates since 1984, the company is now headquartered in Graz, Austria.
"We are excited to become part of Reval to support the needs of the evolving global corporate treasury community," says ecofinance Managing Director Dr. Karlheinz Schlögl. "With our combined resources we will continue to deliver the best solutions in treasury and risk management and remain 100 percent client focused on a 24/7 basis."
With the acquisition, Reval now has approximately 275 employees globally, supporting over 500 companies and financial institutions. ecofinance will continue to do business as "ecofinance - A Reval Company" and will operate from its headquarters in Graz, Austria.
Madison Park Group served as financial advisor to Reval in this transaction. Terms of the deal were not disclosed.