Derivative risk management and hedge accounting firm Reval has acquired FXpress, a treasury software provider to the Fortune 1000.
FXpress will remain operational under the name of Reval. Its flagship product, First, automates core treasury processes, enabling the management of financial exposures and hedges through an efficient workflow. Most recently, FXpress developed a new intercompany lending tool to improve loan management, bank account oversight, and increasingly sophisticated financial exposure management and hedge analysis functionality.
“We’re thrilled to be joining forces with the team at FXpress as our combined talents in derivatives, accounting and technology will offer unparalleled domain expertise and support to companies valuing and accounting for derivatives used to hedge business risk. The acquisition really will result in a one plus one is greater than three scenario, exceeding global standards for the more than 350 clients of our combined companies who can now leverage the best of the best software solutions and services in the industry,” said Reval chief executive and co-founder Jiro Okochi.
Clients will benefit from leveraging best practices from Reval’s global community of users on its single-version Software as a Service (SaaS) Web-based platform. With its acquisition of FXpress, Reval will now support 350 clients with 200 employees and affiliates located in seven countries in North America, Europe, Middle East and Africa (EMEA) and Asia-Pacific.
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