Computer Associates International Inc., one of the world's largest software firms, has acquired Bennett Management Services Inc., a developer of client/server-based software for banking.
Phoenix-based Bennett makes asset/liability, risk management, treasury management, and funds transfer pricing software. It has 20 community bank customers.
Terms of the Nov. 6 deal were not disclosed.
Kurt Seibert, senior vice president and general manager of Computer Associates' banking business unit, said Bennett's Windows NT-based software "has a pretty good name" in the industry.
Mr. Seibert said Computer Associates' clout can help Bennett become a serious competitor with big-bank risk-management vendors like Treasury Services Corp. and Risk Management Technologies Inc.
"Larger banks have a problem, and rightfully so, in dealing with smaller organizations for something as critical as risk-management software," he said. "We are looking at leveraging the relationships that we have with large banks."
Computer Associates, based in Islandia, N.Y., is the world's third- largest software vendor, behind Microsoft Corp. and Oracle Corp.
With customers in a range of industries, it develops systems for both mainframe computers and client/server environments.
Banks use the company's Infopoint software for back-office information processing. BankAmerica Corp.recently became a customer in an agreement to let Computer Associates manage its network of 25,000 personal computers and 5,000 servers.
