Tom Callahan, BlackRock
Denver, CO - BlackRock has entered into a definitive agreement to acquire Cachematrix, a provider of financial technology which simplifies the cash management process for banks and their corporate clients.
Cachematrix enables financial institutions to provide corporate clients with a portal for allocating cash to a variety of money market funds and direct cash instruments. Corporate clients can also analyze, perform compliance checks and generate detailed reports for their cash investments on the Cachematrix platform.
"Regulatory changes in both the US and Europe have fundamentally changed the needs of cash investors. In addition to world class products, cash investors now require new tools to streamline liquidity management and better manage risk." said Tom Callahan, Head of BlackRock's Global Cash Management Business.
The transaction is expected to close in the third quarter of 2017. Terms were not disclosed.