Wallstreet Acquires Thomson Reuters' Corporate Treasury Manager Service
Wall Street Systems (Wallstreet), a provider of treasury, trading and settlement solutions and services, has signed an agreement to acquire the assets of Thomson Reuters Corporate Treasury Manager (Treasura), a 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 – it acquired City Financials in June 2010 and Speranza Systems in April of the same year.
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 Wallstreet’s North American expansion in the mid-tier corporate market.
Larry Ng, managing director of corporate development at Wall Street Systems, said: “The 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.”
The acquisition is expected to close by the end of January 2011.