“We want to leverage our current reputation and capabilities in what we do well, risk management and hedge accounting delivered over SaaS, and leverage what ecofinance has done over the past 25 years in cash and liquidity management,” Okochi says. “It's a really good complementary fit.”

What treasurers really want is that single solution, he says, “And they haven't been able to get it, primarily because of the challenges to vendors to deliver a comprehensive risk management and hedge accounting solution, which is what we have.”

Ecofinance currently has an installed treasury product, Integrated Treasury System ITS, and a SaaS version, ITS@web. Okochi says Reval will combine its product with ITS@web, although the timing of the integration has yet to be determined.

“For now, we're supporting and enhancing both products,” he says. “We want to take our time and make sure we do it right, consider all the aspects to make sure it's a best-in-class product and that we're fully able to support the product.”

In 2009, Reval purchased FXpress, a risk management and accounting software provider. Okochi says Reval continues to support both FXpress' products and its own as it integrates the two.

Asked what the acquisition will mean for Reval's partnership with treasury workstation provider Wall Street Systems, Okochi said, “That would presumably change.”

Reval, based in New York City, had about 400 clients prior to the acquisition. Ecofinance, with headquarters in Graz, Austria, had about 100 clients. Terms of the transaction were not disclosed.