Financial Software Systems Inc., a leading provider of portfolio management software for international financial institutions, today announced that it has acquired Tecnología, Asesoría, Sistemas, S.A. de C.V., a leading provider of treasury and risk management software and services in Mexico. The transaction was completed on June 1. Financial terms were not disclosed. Financial Software Systems (“FSS”) was founded in 1992 and serves a world-class set of Treasury, Wealth Management, Prime Brokerage, Broker-Dealer and Fund Management clients in the Americas, Europe and Asia. Tecnología, Asesoría, Sistemas, S.A. de C.V. (“TAS”) was also founded in 1992 and serves a wide range of Banks and Broker- Dealers in México and Latin America.
“The acquisition of TAS will strengthen Financial Software Systems' presence in México and Latin America and further expand our product offerings” said Gerald Thurston, President of FSS. “We welcome TAS's clients into Financial Software Systems' family. The addition of Financial Software Systems' software to the software offered by TAS will create many opportunities for TAS's existing clients and for new clients throughout Mexico and Latin America.” FSS fully supports Foreign Exchange, Money Market, Bond, Equity and Derivative instruments. FSS's Spectrum Treasury System provides front-office, middleoffice, and back-office processing, along with a robust suite of internet portals and web-publishing capabilities. FSS is also the world’s leading supplier of real-time credit and collateralized trading software through its MarginTrac system.
Ignacio Solórzano Palacio, the CEO of TAS, remarked, “The combination with FSS is ideal for TAS and its customers by providing a clear upgrade path for expanded treasury and internet portal operations. We are delighted with the opportunity this merger provides for TAS’s customers and employees.” Mr. Solórzano, Mr. Gerardo Gómez Montiel and Mr. Leopoldo Plata Prieto, have elected to remain with the combined enterprise and will continue their leadership of TAS’s operations in Mexico City.
Goldenhill Technology Advisors, an international technology M&A advisory firm, assisted FSS in the transaction.
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