Trema Buys Share Capital and Assets of Richmond Software
Trema has bought the complete issue share capital and assets of Richmond Software. Richmond Software was founded in London in 1990 and provides treasury management solutions for the middle market. With the Richmond product suite, Trema is now able to cover both the high-end space, which has been its traditional stronghold, and the more volume-driven middle market space, where less demanding but more cost efficient packaged solutions are required. “Our respective product lines each address very distinctive markets, and both companies share similar values and ambitions,” said Michèle Fitzpatrick, CEO at Trema. “We believe in the need for specialised domain expertise in treasury and asset management. We will continue to invest aggressively in the development and distribution of Richmond Software as our mid-market product offering and expect to make further product announcements on this in the coming months.” The companies expect to complete the practical integration of both businesses within a couple of months.