Akcelerant Sells MBS Software Product Suite To TAO Solutions
MALVERN, Penn. – Akcelerant has agreed to sell its Mortgage Backed Securities software suite, Pool Maker / Pool Manager, to TAO Solutions, a Canadian provider of niche capital markets technology solutions.
The proceeds from the sale of MBS will support Akcelerant’s research and development efforts as the company continues to strengthen its software solutions for lending and collections.
“Akcelerant’s strategy is focused primarily on loan origination and collection software in the United States and Canada. As a result, we felt that the Pool Maker / Pool Manager application did not strategically fit within our current product offerings,” said Jay Mossman, president and CEO of Akcelerant, which has offices in the U.S. and Canada.
Financial terms of the deal were not disclosed.
TAO Solutions is a member of the TAO Group, which includes TAO Asset Management and TAO Administration.