Thursday, February 15, 2007

Aceva Technologies Acquired by SunGard

SunGard announced this morning that it has acquired San Mateo-based Aceva Technologies, a provider of receivables management software. Terms of the acquisition were not disclosed. Aceva develops software used for financial management by corporations, financial institutions and the public sector. The firm has received venture capital backing from Accel Partners, Sequoia Capital, and Clearstone Ventures. The firm will become part of SunGard's AvantGard unit.