FreeBalance makes a deal
FreeBalance Inc., a developer of enterprise software for automating the business and financial functions of government, has acquired Influatec Systems Inc. of Ottawa. Terms of the deal were not disclosed.
With the acquisition, FreeBalance, also of Ottawa, has more than 100 government customers worldwide. The FreeBalance Accountability Suite will expand to include Influatec's Salary Management and Human Resources/Payroll Systems, company officials said. It will also include iBudget, Influatec's Web-based budget preparation system.
Philippe Simard, Influatec's founder and chief executive officer, will join FreeBalance as vice president of business development.