Treasury Intelligence Solutions (TIS) has acquired cash forecasting specialist Cashforce for an undisclosed sum. The news comes just days after TIS announced €50m in new funding from Kreos Capital.
The two companies had already been close collaborators with several clients using both solutions. Now Cashforce's cloud solution will be fully integrated with TIS's SaaS payments platform.
Erik Masing, Group CEO of TIS, described the acquisition as ‘A natural extension of our business that will allow TIS to further integrate Cashforce's solution with our platform in order to offer advanced forecasting and data management capabilities to all our clients.’
The move represents further consolidation in a treasury systems market that has already seen Nomentia acquire TIPCO, Coupa acquire Bellin and Bottomline take over TreasuryXpress.
Treasury Technology news from the experts at Treasury Dragons.