Technology & Finance
Wall Street Systems in Second Major Acquisition of 2010
Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, has acquired 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. The acquired software 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 announcement follows last month’s acquisition of electronic bank account management specialist Speranza. 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.”
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