Freeborders to Acquire Stack Venture Group

Freeborders, Inc., a provider of technology solutions developed from China, has signed a definitive agreement to acquire Stack Venture Group (SVG), a privately held company based in Chicago, IL.

Thanks to the acquisition Freeborders would be able to expand its offerings within the financial services industry, adding expertise and experience within capital markets and commercial lending.

SVG is well-regarded in the capital markets industry for providing support for some of the most functionally rich trading and commercial lending technology solutions available today. SVG claims that clients place a heavy reliance on it to provide integration and ongoing support for products such as LoanIQ (commercial lending) and Summit (risk/compliance) from Misys.

The company also provides third-party support for the Anti-Money-Laundering (AML) product from Mantas - a recent acquisition by Oracle.

"Freeborders' acquisition of SVG reflects our commitment to provide our customers with the focused technology and domain expertise they need to power their strategic business goals," said Jean Cholka, Freeborders' Chief Executive Officer. "SVG's suite of capital markets consulting solutions and its customer base complement Freeborders,' and we are delighted to welcome SVG and its employees to the Freeborders family. Our customers are looking for precisely the kind of talent that SVG offers."

"Freeborders shares our vision and passion for helping customers to take advantage of the best implementation, integration and ongoing maintenance talent for financial services applications," said Richard Stack, CEO, Stack Venture Group, in a statement.

Stack said that both Freeborders and SVG have independently built world-class organizations with extensive IT and industry experience.

“By bringing the two companies together we will not only have the relevant business knowledge, but access to a global resource pool of capital markets and financial technology experts to address the needs of our customers," he said.

Freeborders provides a full suite of services that encompass all phases of a project lifecycle including strategy, design, development, testing, implementation integration, and extended support.