Reval explains what the takeover means for its corporate customers.
News from New York came on October 6th that Reval, a global provider of cloud-based solutions for treasury and risk management, had been acquired by ION Investment Group (IIG).
IIG has made a number of key acquisitions over the past five years, including several servicing the corporate community such as Wall Street Systems, a provider of FX trade processing and treasury solutions; Financial Software Systems, a financial risk-management software and consulting firm and IT2, a provider of SaaS-based treasury management solutions.
Reval provides a scalable cloud platform for Treasury and Risk Management (TRM). Offering cloud-based solutions to enable enterprises to better manage cash, liquidity, and financial risk, and to account for and report on complex financial instruments and hedging activities. Headquartered in New York, Reval has regional centres across North America, EMEA and Asia Pacific.
Andrea Pignataro, ION’s CEO and Founder, said, “The acquisition of Reval substantially increases our footprint in treasury cloud services and enriches our product portfolio with leading functionality in risk and hedge accounting. We will also be able to leverage Reval’s strong Sales, Marketing and Customer Success teams across the product portfolio under Jiro [Okochi, Reval’s CEO] leadership.”
Speaking to Treasury Today exclusively about the latest news and its implications for Reval’s corporate customers, Okochi explained that this was an incredibly positive move for its corporate customer base and would have no negative impact on the company’s ability to service the treasury community. “Having a client community that uses different products is actually more powerful for innovation as we would have the benefit of looking at a variety of different use cases where best practices and ideas can be shared for a more holistic approach to product development,” he says.
“I’m excited for what the future holds as we continue to provide innovative automation solutions for companies that are looking to transform the way they manage treasury and risk,” adds Okochi.
Over the next few months and once the acquisition has been finalised we will hear more from Reval on future updates and product launches for 2017 servicing the corporate community.
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