Calypso Technology has acquired Green River Computing Services, a treasury software development firm. Green River’s software product, Orbit, will be integrated into Calypso’s existing platform, and Green River’s founder and CEO, Dan Farrand, will be joining Calypso’s treasury project management team as director, cash and treasury management. The terms of the purchase transaction were not disclosed.
At its inception, the Calypso Trading and Risk Management Platform was designed for banks, asset managers and other capital market institutions. In recent years, however, the firm says that it has experienced increasing demand from corporate treasurers for solutions that better coordinate their financial hedging and funding activities, provide cash visibility across the enterprise and help them analyse bank counterparty risk. Specifically, Calypso says that this group has requested integrated risk, cash and liquidity management software. With the Orbit integration, Calypso says that it will be able to offer clients a treasury management solution that provides cash management, trading and risk management functionality, all on one integrated platform.
Orbit was developed from the ground-up specifically to address and solve the key problems faced by corporate treasurers. It was designed to support core treasury functions, including cash management, foreign exchange (FX) risk management, bank relationships and investments. Over the past decade, companies such as Cisco, Apple, KLA-Tencor and Juniper Networks have used Orbit.
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