Treasury technology vendor Wall Street Systems says it has reached an agreement to acquire treasury workstation technology, including Treasura, from Thomson Reuters.
"Wall Street Systems has signed to acquire the assets of Treasura, and that does include the Selkirk Financial products," says a spokesman for Wall Street Systems.
In 2004, Thomson acquired Vancouver-based Selkirk Financial Technologies, whose treasury systems included Treasura, an ASP product, as well as Treasury Anywhere and Treasury Manager.
Craig Jeffery of consultancy Strategic Treasurer caught wind of the deal and noted it on his blog on Thursday.
Today Jeffery described the transaction as good news for companies that use Treasura, noting that Wall Street Systems is a big player in treasury technology. "It's probably a better thing for Treasura users that they're in a place that cares about treasury workstations," he says.
Thomson's acquisition of Reuters in 2007 resulted in less attention being paid to Treasura and to developing the product, Jeffery says. He estimates that about 350 companies use Treasura, but says the size of the treasury workstation business was still a "tiny speck" in the huge enterprise that is Thomson Reuters.
For Wall Street Systems, the acquisition of Treasura follows a couple of other big deals. In April 2010, it purchased Speranza, which provides electronic bank account management software, and last June it bought City Financials, a London-based provider of treasury software.
Jeffery says Treasura will sit alongside Wall Street Treasury at the less complex end of the vendor's treasury offerings and complement what he calls Wall Street Systems' "center-of-the-chessboard strategy."
"They build the core applications and manage that," he says. "And they can plug in their own applications, as well as a select set of other vendor applications."