More NewsSimCorp Acquires BA Swallow Business Systems

SimCorp Acquires BA Swallow Business Systems

An agreement has been reached between SimCorp and Bank of America to acquire BA Swallow Business Systems. Swallow, a pioneer in treasury management systems and supplier to IT/2 has been supplying systems to the corporate treasury market since 1983. Bank of America decided to sell Swallow following a strategic internal review, which concluded that product development activities within Swallow could be more appropriately undertaken by a specialist financial software development company. For SimCorp the acquisition of Swallow will significantly increase its share of the treasury management systems market. Internationally, the transaction creates a critical mass for SimCorp in markets that it already serves, including Europe and the Middle East. Furthermore the transaction opens new international markets in North America and South East Asia.

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