Trintech acquires Movaris

TRINTECH, the Irish-American transaction verification software solutions provider, has acquired California-based firm, Movaris for $5 million (€3.4m) in cash and 1.25m of Trintech’s American Depositary Shares (ADSs), in a deal which is expected to be EBITDA enhancing in the Dublin headquartered company’s current financial year.

Movaris, which is based in San Jose, has pioneered numerous financial governance and compliance software tools.

“The acquisition of Movaris is a key milestone in our growth strategy to be the premier provider of financial applications for governance, risk and compliance for CFOs and other senior financial professionals,” commented Cyril McGuire, chairman and CEO of Trintech.