FiREapps: Kyriba to Acquire FiREapps

Kyriba, a provider of cloud treasury and finance solutions, has reached an agreement to acquire FiREapps, a firm that provides enterprise currency management solutions to corporate treasuries."FX volatility is a major strategic challenge for treasury organisations," says Kevin Permenter, senior research analyst for enterprise applications at IDC, a technology analyst firm. "Financial leaders doing business in multiple countries should be looking to adopt a more holistic approach to their global risk management strategies."In a release issued today, Kyriba says: "The acquisition will create a highly advanced solution for managing global FX risk, including data gathering and consolidation, reporting, analytics, decision support, payments, hedge accounting and more. The combined result is a faster, more efficient way to manage FX exposures than using old school processes involving spreadsheets and manual data gathering across multiple systems."