Fundtech, a New Jersey-based provider of transaction banking services, has acquired Manchester-based IP firm InterSoftware.

Fundtech, a New Jersey-based provider of transaction banking services, has acquired Manchester-based IP firm InterSoftware.

InterSoftware supplies payment software, with an emphasis on the Bacs system. The acquisition expands Fundtech’s UK corporate payments customer base to 8,500, representing over a third of all companies processing Bacs payments.

Reuven BenMenachem, CEO of Fundtech, said: “This acquisition significantly expands our corporate customer base, enabling us to provide a wide range of leading-edge payment services directly to corporates and via our existing banking channels. This move supports our long-term goal of being the premier provider for corporate FSC services to corporations and financial institutions globally.”

InterSoftware reported a turnover of £1.1 million in 2008.