An agreement has been reached between SimCorp and Bank of America to acquire BA Swallow Business Systems. Swallow, a pioneer in treasury management systems and supplier to IT/2 has been supplying systems to the corporate treasury market since 1983. Bank of America decided to sell Swallow following a strategic internal review, which concluded that product development activities within Swallow could be more appropriately undertaken by a specialist financial software development company. For SimCorp the acquisition of Swallow will significantly increase its share of the treasury management systems market. Internationally, the transaction creates a critical mass for SimCorp in markets that it already serves, including Europe and the Middle East. Furthermore the transaction opens new international markets in North America and South East Asia.
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.