In a move to create one of the world’s leading cash management, treasury management and electronic banking software companies serving both regional and multinational corporations, Cerg Finance, S.A. and XRT, Inc. today announced a definitive agreement to merge. XRT shareholders will contribute 100 percent of their shares in exchange for Cerg Finance common stock representing 17.75 percent pro forma ownership in the combined company. XRT, a privately held company headquartered in Wayne, Pa., will become the United States subsidiary of Cerg Finance. Together, the combined company will have approximately 425 employees worldwide.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.