Wall Street Systems (âWallstreetâ), the global provider of treasury, trading and settlement solutions and services, today announced that it has signed an agreement to acquire the assets of Thomson Reuters Corporate Treasury Manager (a.k.a. âTreasuraâ), a leading Software-as-a-Service (SaaS) provider of cash and liquidity management services to corporations in North America. The acquisition represents the third for Wall Street Systems in 12 months, further enhancing the companyâs leading position within the global corporate treasury space.
Wallstreet will integrate the Treasura service into its existing suite of treasury management solutions, with a particular emphasis on its cash management functionality. The addition of Treasura will further accelerate Wallstreetâs North American expansion in the mid-tier corporate market, complementing the companyâs June 2010 acquisition of London-based City Financials. Rounding out Wallstreetâs acquisition tally over the past 12 months is Speranza Systems, a leading provider of electronic bank account management (eBAM) solutions, acquired in April 2010.
Larry Ng, Managing Director of Corporate Development at Wall Street Systems commented, âThe Treasura acquisition will further enhance our existing strong cash management capabilities to a broader market, expand our client base and position us for further growth as companies re-engineer their financial infrastructure and workflow. In the midst of the financial crisis, the treasury function has become critical and strategic in the face of increasing complexity, regulatory changes and demands for better cash, liquidity and risk management.â
The acquisition is expected to close by the end of January 2011.