Swallow Tech, a UK provider of financial reconciliation technology, has merged its operations with Belgium-based vendor Placid.
SwallowTech says the combined company now provides reconciliation technology to over 200 customers in more than 50 countries.
Tony Waszkiewicz, CEO, Swallow Tech, told Finextra the merged company will continue to run its operations in the UK and Belgium and has no plans to reduce staff.
He says in the longer term the firm plans to merge the Swallow Tech and Placid product ranges into one product line.
Commenting on the move, Gustave Belvaux, MD, Placid, says that the merger guarantees the long term life of Placid's technology.