ALERI SELLS BANKING DIVISION TO WALL STREET SYSTEMS

Posted April 29, 2008

NEW YORK – Treasury, trading and settlement solutions and services provider Wall Street Systems plans to acquire Aleri Global Banking (AGB), the wholesale banking division of Aleri Inc. The terms of the transaction were not disclosed, but the companies say they will complete the acquisition by the end of May and integrate the businesses by year-end 2008.

Aleri is selling the unit to focus exclusively on complex event processing (CEP), according to Don DeLoach, President and Chief Executive Officer of Aleri. “Aleri will now be expanding its CEP business, in turn enabling Wall Street Systems to significantly extend its presence in the global banking market,” says DeLoach. “Wall Street Systems’ commitment to delivering operational efficiency while providing high levels of service has been well received by our AGB clients. They will have uninterrupted and continued support from their existing team. Additionally, they will benefit from Wall Street Systems’ global presence, deep domain knowledge, client-centric approach, and financial strength through the backing of its private equity owner, Warburg Pincus.”

Wall Street Systems is buying Aleri Global Banking to strengthen its back-office offerings, according to Joel Mandelbaum, President and Chief Executive Officer of Wall Street Systems. “The addition of Aleri Global Banking extends our global footprint in providing cross-asset back office solutions to global banks – something we are fully committed to for the long-term,” he says.

AGB products will retain their names, but under Wall Street Systems’ brand. AGB solutions handle more than $10 trillion in transactions per month. Wall Street Systems’ banking solution process about 500 billion transactions with a value of more than $2 trillion each day. “The parallels between Aleri Global Banking and Wall Street Systems are clear – both count Tier One banks among their client base and both have strong established track records in delivering high-volume transaction processing solutions,” says Sean O’Dowd, Senior Research Analyst at Financial Insights.