FreeBalance snaps up financial planning rival

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, with offices in Rosslyn, Va., has more than 100 government customers worldwide.

"We share considerable corporate, product and customer synergies and a focus on the needs of government," said Bruce Lazenby, president and chief executive officer of FreeBalance. "Governments are looking for well-integrated, standards-based solutions that are easy to implement to address their increasing needs for accountability and transparency."

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.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.