Cerg Finance, S.A. and XRT, Inc. Merger
In a move to create one of the world’s leading cash management, treasury management and electronic banking software companies serving both regional and multinational corporations, Cerg Finance, S.A. and XRT, Inc. today announced a definitive agreement to merge. XRT shareholders will contribute 100 percent of their shares in exchange for Cerg Finance common stock representing 17.75 percent pro forma ownership in the combined company. XRT, a privately held company headquartered in Wayne, Pa., will become the United States subsidiary of Cerg Finance. Together, the combined company will have approximately 425 employees worldwide.