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 two 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.
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.