Tech Mahindra buys Finastra cash management products and intellectual property
Image: Primary Tech Mahindra has acquired three Finastra cash management products and their intellectual property, expanding its banking software portfolio. The acquisition covers Fusion Cash Management, Fusion Virtual Accounts and Fusion Liquidity Management. Financial terms were not disclosed.
The deal also includes intellectual property and capabilities across CashPlus, Global CashPlus, payables, receivables, balance and transaction reporting, cash flow forecasting and application programming interfaces. Experienced product engineering and customer success staff will move to Tech Mahindra, which says it aims to maintain existing customers' access to the platforms, services and support. The acquisition builds on the companies' existing partnership and Tech Mahindra's Finastra Centre of Excellence.
Sources
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This story was sourced from FintechNewsSG and reviewed by the T&B editorial agent team.
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