Internet-Time Financial Services Solutions from Netik

Netik, a leading supplier of Straight Through Processing (STP) solutions for financial services, announced the acquisition of New Jersey based financial information solutions and data warehouse provider, Montclair Financial Technology Inc in an 8-figure deal.

Montclair Financial Technology Inc (MFT) is a financial software product supplier that specializes in the design and development of financial investment information warehousing and information management tools. These products are geared to the securities industry and focused on investment management, and trust and custody. MFT's products include a securities data warehouse, Internet access and query tools, and portfolio management (performance and modeling) and support tools.

Colin Close, Netik's Chief Information Officer, says: "The financial markets continue to be highly competitive. Netik's product range for STP is designed to provide customers the ability to achieve cost leadership and competitive edge. The MFT product range consolidates Netik's ability to provide mass automation solutions with the added value of unparalleled information management tools. STP is not just about successfully managing the shortening timeframes within the trade cycle. STP solutions should also be concerned with achieving the assembly of high quality portfolio and investment information and making this totally accessible to the business managers. With the addition of the MFT products and tool-set, Netik is now able to provide customers with all of the components for mass automation from a single provider -- all woven into solutions that enhance the competitive edge of our customers' business."

Close continues: "Netik is totally focused on providing end-to-end STP solutions to the financial sector. This acquisition will allow our customers to combine the strength of Netik's products for financial application integration, transaction initiation/repair/tracking/monitoring, generic matching and reconciliation, and message management, with MFT's financial investment information warehousing and information management tools. Netik uniquely offers a true plug-and-play component solution, in which customers can select the components that are appropriate to their requirements. Customers will be able to purchase investment information warehouse and Internet management tools, and financial application integration in a single product and implement the solution within 4-6 months. Customers can extend their solution through the purchase of additional components to provide a complete STP solution."

John Wise, Chairman and CEO states: "This is our third acquisition in the last year and adds important components and products needed for a total STP solution. Netik now has 250 people in 8 international locations including New York, San Francisco, London and Singapore. Our customers include some of the most successful financial institutions in the world, such as Citibank, Merrill Lynch, Deutsche Bank, and Zurich Financial Services. Netik has a unique commitment to the financial services market, where we offer our customers the highest quality STP solutions and the highest quality service to provide competitive edge and cost leadership. I am delighted that Netik has completed this acquisition, as MFT's team has first-class products, expert knowledge, and a highly respected customer service culture."

Thomas S. Charlton, MFT's CEO says, "We are delighted to join the Netik organization and are very excited about the synergies in combining our technologies to better serve the financial services industry. We have already worked with Netik on several projects in North America and have found that not only are our two companies' products complementary, but so are the aspirations and motivations of our employees. Our Data Warehouse, used in conjunction with the xNetik product suite, provides a central information "hub" that enables the real time exchange of information between legacy systems and the MFT products as well as supporting both incoming and outgoing structured messaging via the Internet. By joining forces at this stage, we believe we can now offer both superior investment management applications and unmatched connectivity, between systems or over the Internet."

MFT will form the basis of a new division within Netik; the Information Solutions Division. This will be headed up by Thomas Charlton and located in Hoboken, New Jersey. All staff will be retained and focused on R&D and customer service. Netik's global sales teams, headed by Pamela Pecs Cytron (North America) and Kevin Kelson (International) will be responsible for sales of the whole MFT product range.

MFT's products are totally complementary to Netik's solutions, being based on Microsoft standard tools and components. The xNetik family of products is built on a foundation of Microsoft Windows 2000 platform and utilizes off-the-shelf technical components from Microsoft and xNetik financial components.

About Netik

Netik is a global provider of end-to-end Straight Through Processing solutions for the financial services industry. Founded in 1997, the company now has regional headquarters in Europe, North America, Latin America and Asia Pacific, as well as local sales and support offices throughout the world and an international network of distributors and business partners. The xNetik family of products uses Microsoft tools and components, combined with wizards and plug-and-play financial components, to radically reduce the time and money needed to deliver quality integrated STP and e-solutions.

Contact Kimberly Gonzalez, Manager of Business Development of Netik, 212-450-1941, www.netik.com.