Since 1988, Manex has supported building societies, banks and corporate treasuries across the UK. Their expertise will now be absorbed by Eurobase, who has also provided treasury solutions to financial institutions for over 25 years. The acquisition will see all current Parity clients and Manex staff move to Eurobase
Eurobase expertise and synergies
In the Press Release Eurobase say, “They are committed to the small and medium sized treasury solution markets that they have a number of long standing relationships in. Numerous synergies between the company and Manex have led to this new acquisition, with Eurobase bringing their expertise of treasury operations and its real-time treasury solution, siena, whilst Manex will provide its extensive knowledge of its existing client base and their treasury requirements and, of course, the Parity software.”
Joe Locke, CEO of Eurobase Group, said: “This acquisition underlines our growth aspirations at Eurobase and increases our presence in the building society and corporate sectors.’’
Parity user support
Eurobase will continue to support existing Parity users and will also offer a seamless upgrade to their own solution, the modular siena platform:
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Manex’s Nick Eaton and Simon Edmunds will also be joining Eurobase as members of the operations team.
CTMfile take: Manex’s Parity Treasury System was one of first TMS in Europe and retained loyal users because of the unique, simple, and almost elegant way it approached treasury management. However, scale is vital for survival in the TMS market. Which, sadly, they never achieved.
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