More blog entries will be made on this topic this week with additional opinions. However, here are a few facts:
- Reval acquires FXPress <–read the press release here
- FXPress' Richardson stays on
- Secures $16mm in additional funding
- Client base now totals 350+ for the combined entity
- Stated goal of creating the best of the best
The new Reval plans to approach the acquisition in a way that avoids the pitfalls of some other Treasury & Risk Technology mergers/acquisitions of the past. They plan to take a reasonable period of time looking at gaps in each product and (get this) query many clients about what is right. (Reasonable meaning half a year, not half an hour).
Therefore, both products will continue to be sold and implemented for a time. Support will likely continue for much longer. After the gap analysis and product planning takes place we will look for a clear product roadmap as they build the new best of the best offering.
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