Tuesday, June 3, 2008

Triple Point picks up Investment Support Systems

By Mass High Tech Staff

Software maker Triple Point Technology Inc. has acquired Investment Support Systems Inc., a New Jersey-based treasury management and regulatory compliance solution provider.

Westport, Conn.-based Triple Point, a developer of commodity and energy trading, risk management, scheduling and logistics software, said that all 45 Investment Support Systems employees have joined Triple Point, and Investment Support Systems founder and CEO Elie Zabal has been named Triple Point senior vice president of treasury management and regulatory compliance solutions.

Financial terms of the deal were not disclosed.

Investment Support Systems, which operates a center of operations in England, serves more than 60 customers, including TransAlta Corp., TransCanada Corp., Pennsylvania Power & Light Co., and Campbell Soup Co.

Triple Point Technology, founded in 1993, develops software that integrates physical and financial markets for all commodities. The company operates five development and support centers worldwide.

Last year, Triple Point acquired for an undisclosed amount CoralGrid Software Ltd., a Chennai, India-based precious metals software developer.