Investment accounting systems firm Premier Solutions Ltd. announced earlier this week it has agreed to acquire National Investor Data Services Inc., a developer of portfolio management software.

The acquired company, also known as NIDS, makes investment management and mutual fund accounting products for securities firms, insurance companies, and trust companies. Based in Southampton, N.Y., the company has 70 clients, including Gibraltor Advisors, a unit of Prudential Securities, and Investco Trust Co. Financial terms were not disclosed.

Malvern, Pa.-based Premier Solutions has been primarily known for trust accounting software used by major global custodian banks, but the acquisition of National Investor is the latest in series of moves in the past year to broaden the company's product mix, officials said.

In October 1994, Premier Solutions acquired a unit of Texas Instruments Inc. that markets investment accounting software for the insurance industry. And last month the company announced a partnership with Bankers Trust New York Corp. to develop an asset management "data warehouse" for financial firms.

"The addition of NIDS enables our company to continue its ongoing diversification while retaining clear focus on the asset management industry," said Jay Mossman, president and chief executive of Premier Solutions. "We will continue to aggressively develop new NIDS products in order to capitalize on the strong opportunities in the marketplace."

National Investors markets four software products: NIDS/Port, a portfolio management system; NIDS/Wrap, a investment tracking system for wrap-fee managers; NIDS/Fund, a mutual fund accounting system; and NIDS/Share, a shareholder/stock transfer agency system.

"We were looking for a strategic partner to help us expand our products and introduce them to new markets," said Carl A. Froebel, founder and president of National Investors, adding that combination should help his firm get better penetration into banks and insurance companies.

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