Wall Street Systems said Monday that it signed an agreement to buy the assets of Thomson Reuters Corporate Treasury Manager, which sells cash management programs to businesses.
The New York company said it plans to integrate the assets into its existing suite of treasury management software products. No price was given for the deal.
"In the midst of the financial crisis, the treasury function has become critical and strategic in the face of increasing complexity, regulatory changes and demands for better cash, liquidity and risk management," Larry Ng, the managing director of corporate development at Wall Street Systems, said in a press release. The acquisition is expected to close by the end of January.