Acquisition strengthens Wallstreet’s leading position in back office trade processing and enables Aleri to focus exclusively on complex event processing
London and New York, 29 April, 2008 – Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, has signed an agreement to acquire the assets of Aleri Global Banking (AGB), the wholesale banking division of Aleri, Inc. This acquisition, which derives from Aleri’s decision to exclusively focus on complex event processing (CEP), further demonstrates Wallstreet’s commitment to the back office space and Aleri’s commitment to CEP technology.
Aleri Global Banking has more than 25 years heritage in providing mission critical, high availability, high performance transaction processing infrastructure to many of the world’s largest banks. AGB’s fully integrated, cross-asset transaction management solutions account for more than 10 trillion US dollars in transactions per month. Wallstreet solutions also have the capacity to handle high volumes, with its banking solutions processing up to half a million transactions valued at over 2 trillion US dollars each day.
The Aleri Global Banking products include Atlas, Global Banking Solutions, Continuous Link Settlement Server and Money Transfer. Product names will stay the same, but will be Wallstreet branded. The solutions will also remain technically unchanged for the foreseeable future. All development, client services, consulting and support staff will become employees of Wall Street Systems, which also plans to form and support a Global Banking user group.
“Aleri has always prided itself on providing mission critical solutions and technology for many of the world’s largest banks,” said Don DeLoach, president and CEO of Aleri. “Aleri will now be expanding its CEP business, in turn enabling Wallstreet to significantly extend its presence in the global banking market. Wallstreet’s commitment to delivering operational efficiency while providing high levels of service has been well received by our AGB clients. They will have uninterrupted and continued support from their existing team. Additionally, they will benefit from Wallstreet’s global presence; deep domain knowledge; client-centric approach; and financial strength through the backing of its private equity owner, Warburg Pincus.”
Commenting on the acquisition, Joel Mandelbaum, president and CEO of Wall Street Systems said: “The addition of Aleri Global Banking extends our global footprint in providing cross-asset back office solutions to global banks – something we are fully committed to for the long-term. Culturally we are very much aligned, so we expect a smooth integration of Aleri Global Banking into Wallstreet. We welcome its experienced and highly knowledgeable staff, and look forward to building upon their strong client relationships for many years to come.”
“The parallels between Aleri Global Banking and Wall Street Systems are clear – both count Tier One banks among their client base and both have strong established track records in delivering high volume transaction processing solutions. This acquisition demonstrates Wall Street Systems commitment to expanding its presence in servicing the back-office, embracing new technologies and delivery models," said Sean O’Dowd, senior research analyst at Financial Insights. “As a result, this is a logical step for Wallstreet, which should see AGB clients benefit from a growing and profitable solution provider as well as being part of a larger client base.”
Terms of the transaction were not disclosed. The transaction is anticipated to be completed by the end of May and the integration is expected to be completed by the end of the year.
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About Wall Street Systems
Wall Street Systems has a 20 year heritage and track record of providing treasury and high performance transaction processing software to the world’s leading financial institutions and corporations. The company has an outstanding reputation for quality and responsive service, and prides itself in helping its clients achieve long lasting benefits and results. Wall Street Systems is best known for providing functionally-rich, integrated and scalable solutions, which improve workflow, control and overall productivity. The company is the market leader in foreign exchange trade processing and is widely recognised for its global back-office solutions. Its award-winning and popular Wallstreet Suite and Wallstreet Treasury products are used by leading organisations around the world.
Wall Street Systems has 500 employees servicing over 300 banking, corporate and central bank customers, operating out of 11 offices worldwide. Our software processes millions of transactions, aggregating to trillions of dollars every day. Wall Street Systems is a privately held corporation, which is majority owned by Warburg Pincus, a global private equity investor.
For more information, please visit www.wallstreetsystems.com
Aleri is a leading provider of enterprise-class complex event processing (CEP) technology for financial institutions and beyond. Aleri’s CEP Platform was designed from the ground up to provide the most robust architecture available for the rapid implementation of mission critical applications within the most demanding environments. Built for high throughput with minimal latency, Aleri’s event processing technology allows customers to analyze and respond instantly to high-volume, high-speed data to minimize risk and increase competitive advantage.
Aleri is the first to develop and deploy commercial enterprise-class applications built on event processing technology, the Aleri Liquidity Management System, which is used by some of the largest global bank treasuries in the world, and the Aleri Market Liquidity Analysis engine, which consolidates multiple order book feeds from individual exchanges to provide a powerful tool for trading in fragmented markets.
Aleri is a global company headquartered in Chicago with offices in New York, New Jersey, London, and Paris. For more information, visit www.aleri.com.
About Market Advisory Services
Market Advisory Services (MAS) of Spring Lake, New Jersey introduced and advised Aleri Inc. in the transaction. MAS is an international advisory boutique specializing in commodities, energy and financial information technology. MAS has advised on more than 70 transactions including capital raising, acquisitions and divestitures.
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