US financial technology vendor ION Trading has acquired Financial Software Systems a week after its subsidiary Wall Street Systems announced a deal to acquire rival ITS Treasury Solutions.
Founded in 1992, Financial Software Systems is a US-based provider of treasury management systems (TMS), capital market and wealth management technology and serves banks, broker-dealers and fund managers worldwide. The company is headquartered in Horsham, Pennsylvania, and has offices in London, San Francisco, Mexico City, Singapore, Hong Kong and Hyderabad.
Terms of the latest deal were not disclosed in a statement from the firm, which said that its founders, Gerald Thurston and Vincent Small, will stay on to help the integration with ION.
“ION Group provides a unique opportunity to join a larger organisation with significant technology and domain expertise,” added Thurston. “We believe the combination with ION Group will significantly enhance [the firm’s] ability to serve our clients worldwide.”
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