Reval offers treasury management solutions that have now become the target of an acquisition.
Reports on Thursday (Oct. 6) said Reval has entered into an agreement to be acquired by ION Investment Group, run by workflow automation solution provider ION.
"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," said ION CEO and Founder Andrea Pignataro. "We will also be able to leverage Reval's strong sales, marketing and customer success teams across the product portfolio under Jiro's leadership."
Jiro Okochi, CEO and cofounder of Reval, said the acquisition offers an exciting opportunity for the firm.
"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," he said in another statement.
Financial terms of the deal were not disclosed by the companies.
Reval offers corporate treasurers risk mitigation solutions, an offering that Okochi recently told PYMNTS was key for companies experiencing "rapid growth, either through organic means or mergers and acquisitions, where it can be hard to get data."
Technology, the executive explained, is critical for aggregating and analyzing data for risk mitigation and forecasting. Cloud technology in particular can offer businesses access to the sophisticated tools previously unreachable for smaller firms, he added.
Last year, Reval introduced the Reval Cloud Platform treasury tool to help corporate treasurers manage their international partners and navigate the differing regulatory landscapes across jurisdictions.