Wall Street Systems, a developer of financial trading and treasury engines, has acquired corporate treasury specialist City Financials. No financial terms were disclosed. Wall Street Systems is a portfolio company of Warburg Pincus.
Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announces the acquisition of City Financials, the corporate treasury specialist used by over 50 of the largest companies in the world. This acquisition further strengthens Wallstreet’s market leadership in providing solutions to the most sophisticated and complex organizations as treasury becomes more strategic and global. Better management of cash, liquidity and risk are high on the agenda of corporate boardrooms.
Wallstreet will integrate City Financials’ corporate treasury business into its existing portfolio of treasury assets. It will sit between Wallstreet Treasury, which caters to the needs of mid-tier corporations, and Wallstreet Suite, which is favoured by Global 200 corporations and central banks. City Financials will be offered as installed software at the client’s site or as software-as-a-service (SaaS) – the increasingly preferred solution by most clients because of the speed of implementation, ease of having experts run the day-to-day operations of managing systems and software, and the lower total cost of ownership.
The announcement follows last month’s acquisition of electronic bank account management specialist Speranza. Wall Street Systems has a successful track record in acquiring and smoothly integrating companies while improving the experience for new and existing clients. Paul Mahady, President of Market Advisory Services (MAS), was a strategic advisor to Wall Street Systems on its acquisition of City Financials.
Larry Ng, Managing Director, Corporate Development, Wall Street Systems commented, “City Financials is a great fit for Wallstreet. We now have a full range of the best treasury solutions and services in the marketplace. The economic turmoil has clearly demonstrated the vital importance of Treasury. Companies are demanding better access and control of their cash and liquidity. We are committed to helping our clients meet these new challenges for the long term by investing across all areas for the purpose of their benefit. We see our clients as partners, and therefore our success is tied to their success.”
About City Financials
City Financials is a leading provider of treasury management software and has seen considerable growth since the launch of its innovative product eTC. eTC is an integrated treasury workstation covering all aspects of corporate treasury system requirements. Functional areas cover cash, deal, and risk management together with seamless and powerful integrated accounting meeting both practical and regulatory requirements. The product operates on one central database that can be located anywhere in the world enabling the efficient control of treasury data in a timely manner.
About Wall Street Systems
Wall Street Systems (Wallstreet) is the market leader in treasury, central banking and FX trade processing solutions. Its functionally rich and scalable solutions are used by the world’s largest corporations and financial institutions to improve workflow, manage risks and increase overall productivity throughout the enterprise. Wallstreet’s award winning solutions are used by tens of thousands of users to process millions of transactions aggregating to trillions of dollars, every day.
With a 20 year heritage, Wallstreet has an outstanding reputation for quality and responsive service, and prides itself on helping its clients achieve long lasting benefits and results. Its 600 employees service over 350 corporate, banking and central bank clients, operating out of 13 offices worldwide. The company is a privately held corporation, and is majority owned by Warburg Pincus, a global private equity investor. For more information, please visit www.wallstreetsystems.com.