Gresham Technologies plc, the leading software and services company that specialises in providing real-time data integrity and control solutions, today announced that it has completed the acquisition of B2 Group.
B2 Group adds cash management and payments integration solutions to Gresham's portfolio of Clareti applications, increasing Gresham's addressable market and advancing Gresham's strategic plan to create a global, enterprise financial technology business.
All B2 senior leadership and staff have joined Gresham and will continue to work together as a specialist team known as Gresham Cash Management Solutions. The B2 Luxembourg office will become a hub for growing Gresham's expanding business in continental Europe.
Ian Manocha, Gresham CEO, commented:
"We're delighted to be announcing today's acquisition of B2 Group. This exciting combination creates an industry leader in multi-bank integration and control solutions for corporates, banks, insurers and asset managers, it strengthens our cloud capabilities and gives us a platform to further accelerate our growth.
We have strategic plans for our combined organisation and remain committed to delivering innovative products, excellent support and industry expertise to our customers."
Highlights of the acquisition:
15 new customers, comprising corporates, banks, insurers, and asset managers, added to the Gresham customer base
Provides an enlarged footprint in continental Europe
Brings further expertise in cash management, securities and payments integration, straight-through-processing and secure cloud hosting solutions
Complements Clareti Accounts Receivables Management and Clareti Transaction Control
Brings proven, private cloud capability hosted at B2's trusted, secure, high-availability data centres in Luxembourg
Gresham will take B2 Group's full product set to the global market as part of the Clareti portfolio with B2's 'Multi-Bank Integrator' being renamed as 'Clareti Multi-Bank'.
Phil Boland and Marc Binck, B2 Group Co-founders, commented:
"Joining with Gresham will enable us to take our innovative multi-bank solutions to a global market. Gresham shares our passion for customers and understands how to support the growth of a successful and talented financial technology team. We are delighted to be joining Gresham."
About Gresham Technologies plc
Gresham is a leading software and services company that specialises in providing real-time data integrity and control solutions. Listed on the main market of the London Stock Exchange (GHT.L) and headquartered in the City of London, its customers include some of the world's largest financial institutions, all of whom are served locally from offices located in Europe, North America and Asia Pacific.
Gresham's award-winning Clareti software platform has been designed to provide financial institutions with complete certainty in their data processing. Clareti is a highly flexible and fully scalable platform for ensuring the integrity of data across an enterprise. It is designed to address today's most challenging financial control, risk management, data governance and regulatory compliance problems.
About B2 Group
B2 Group, based in Luxembourg and with offices in London, are specialists in bank-to-corporate integration and cash management software and focus on the growing multi-bank solutions market. B2 Group's core product is an innovative, proprietary, cloud-based software platform to connect corporates and asset managers with their bank partners. It provides organisations with real-time visibility of their cash position, improved control of outgoing payments and automated processing of incoming statements.