Tuesday, July 8, 2008

Triple Point picks up Texas firm Rome

By Mass High Tech Staff

Software maker Triple Point Technology Inc. reports that it has acquired a Houston-based software company, marking Triple Point’s second acquisition in as many months.

Westport, Conn.-based Triple Point, a supplier of energy and commodity risk management and transaction processing software, acquired Rome Corp., a provider of enterprise credit risk management solutions, officials said.

Financial terms of the deal were not disclosed.

In June, Triple Point acquired for an undisclosed amount Investment Support Systems Inc., a New Jersey-based treasury management and regulatory compliance solution provider.

As part of the Rome deal, Rome founder and chief marketing officer Dan Reid was named vice president of Triple Point’s credit risk solutions.

Founded in 2003, Rome also operates a European headquarters in London. The acquisition will add 48 employees to Triple Point, increasing the company’s employee total to nearly 400, officials said.

Triple Point, 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.