Wall Street Systems, the New York and London-based purveyor of high-end treasury technology, says it has acquired another provider of treasury software, City Financials.
Wall Street Systems would not comment on the terms of the transaction.
The company says it will position City Financials in the middle of its range of products, between Wallstreet Treasury, an ASP solution aimed at midsize companies, and Wallstreet Suite, which is marketed to the biggest companies.
Mark Lewis, director of corporate treasury at Wall Street Systems, says Wallstreet Treasury is a turnkey product for companies that don't want to customize their treasury solution. City Financials "is a step up from the turnkey," Lewis says. "It takes a little longer because you have the opportunity to make some configurations."
"You can have it as a SAAS offering or you can have it installed," he adds. Wallstreet Suite, the most sophisticated of Wall Street Systems' offerings, is also available as either installed software or software as a service.
City Financials was based in London, but its clients include such big U.S. companies as Whirlpool and Time Warner.
This was Wall Street System's second big acquisition this spring, following its April purchase of Speranza Systems, a provider of bank relationship management software.
To read about Wall Street System's previous acquisition, see Wall Street Systems Buys Speranza.