Wall Street Systems, the New York and London-based purveyor ofhigh-end treasury technology, says it has acquired another providerof treasury software, City Financials.
|Wall Street Systems would not comment on the terms of thetransaction.
|The company says it will position City Financials in the middleof its range of products, between Wallstreet Treasury, an ASPsolution aimed at midsize companies, and Wallstreet Suite, which ismarketed to the biggest companies.
|Mark Lewis, director of corporate treasury at Wall StreetSystems, says Wallstreet Treasury is a turnkey product forcompanies that don't want to customize their treasury solution.City Financials “is a step up from the turnkey,” Lewis says. “Ittakes a little longer because you have the opportunity to make someconfigurations.”
|“You can have it as a SAAS offering or you can have itinstalled,” he adds. Wallstreet Suite, the most sophisticated ofWall Street Systems' offerings, is also available as eitherinstalled software or software as a service.
|City Financials was based in London, but its clients includesuch big U.S. companies as Whirlpool and Time Warner.
|This was Wall Street System's second big acquisition thisspring, following its April purchase of Speranza Systems, aprovider of bank relationship management software.
|To read about Wall Street System's previous acquisition,see Wall Street Systems Buys Speranza.
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