NEWBURYPORT, Mass. - The Darling Consulting Group Inc. has acquired the rights to an asset/liability management software package from Sungard Financial Systems Inc. of Waltham, Mass.
The Darling Group had originally developed the software, known as Basis, but lost ownership when the company was acquired by Sungard in 1989.
When Darling split from Sungard in 1991, the asset/liability consulting firm continued to market the software to its clients through a marketing arrangement with Sungard.
It will now provide the software - a tool to predict the rate sensitivity of a financial institution - directly to its approximately 100 clients.
"By acquiring all the rights to Basis, we will be able to continue to upgrade and improve the software," said George Darling, president of the firm.