Wall Street Systems acquires IT2 Treasury Solutions
London-based IT2 specialises in treasury solutions
IT2 Treasury Solutions, a UK company that provides treasury management software and services for large corporations and small and mid-sized financial institutions, has been sold to Wall Street Systems, a subsidiary of trading technology provider ION Trading.
London-based IT2 has offices in Copenhagen, Amsterdam, New York and Hong Kong. The firm’s TMS has been designed to support treasury in its entirety, including cash, debt and investment, financial risk, treasury accounting and hedge accounting. The IT2 system also provides payments, eBAM and FX exposure management. It can be deployed in the cloud, in a hosted environment or on the user’s own hardware. IT2 currently serves some 12,000 treasury customers and 280 organisations.
IT2 enables treasurers to implement best practices and establish controls and reporting processes. Using key performance indicators, treasurers can not only measure their performance in cash management, foreign exchange, funding and investments, but can ensure they are in compliance with policy.
US-based Wall Street Systems is a company focused on treasury, FX trade processing and cross-asset back office tools. The company was acquired by ION, a financial group focused on trading, position keeping and risk management software for traders and financial institutions in May 2011.
“IT2 was a very successful investment for the CapMan Technology 2007 funds and we are pleased with the opportunity to develop the company into a significant treasury management service provider,” said Tommy Valter Hansen, chairman at Nordic private equity firm CapMan. “We invested in IT2 primarily because of the company’s competitive product, strong reputation and international growth opportunities. The business has developed even faster than we initially expected, especially in the US, and profitability has remained high through the CapMan investment period.”
