SwallowTech acquires Monro Business Systems

London and Brussels - 11 October 2006

SwallowTech, provider of software and services to the treasury, securities and derivatives markets, today announced that it has acquired Monro Business Software (Monrosoft) a Brussels based competitor.

The merger combines two companies with many years experience in the world of reconciliation and back-office automation, both well known in the International Banking world.

Mr Tahar Ouahabi CEO at Monrosoft says 'The best features of both proven systems will be combined to enhance and develop a product which will respond to a larger variety of market requirements".

Tony Waszkiewicz, CEO at Swallow Tech, says: “The merger extends our Belgian office and is an important step in our plans for growth in EMEA”.

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