UK-based software and services company Gresham Technologies has completed the acquisition of Luxembourg-based payments solutions company B2 Group.

The acquisition expands Gresham’s portfolio of Clareti applications with the addition of cash management and payments integration solutions. B2’s Multi-Bank Integrator will now be rebranded as Clareti Multi-Bank.

The deal expands Gresham’s presence in continental Europe. Additionally, it provides the acquirer with 15 new customers including banks, insurers, and asset managers.

The combination also offers private cloud capability hosted at B2’s data centres in Luxembourg.

Gresham CEO Ian Manocha said: “This exciting combination creates an industry leader in multi-bank integration and control solutions for corporates, banks, insurers and asset managers, it strengthens our cloud capabilities and gives us a platform to further accelerate our growth.

“We have strategic plans for our combined organisation and remain committed to delivering innovative products, excellent support and industry expertise to our customers.”

All B2 Group senior leadership and employees have migrated to Gresham as part of the deal. They will serve as a specialist team called Gresham Cash Management Solutions.

B2 Group co-founders Phil Boland and Marc Binck said: “Joining with Gresham will enable us to take our innovative multi-bank solutions to a global market.

“Gresham shares our passion for customers and understands how to support the growth of a successful and talented financial technology team.”